Strange Spending

While spending by the poor (bottom 25%) fell by 23% and by the wealthy (top 25%) by 31% at the start of this pandemic, spending by the poor has recovered. For the wealthy it remains down 17%. The wealthy elect to self-isolate by not frequenting high-contact service providers like beauty salons and restaurants. This, of course, hammers unemployment for such workers, who tend to generally be poorer. Think Silicon Valley.