Back to Blog
Image: Tittee Parichad on Unsplash
In the US, a K shaped recovery is not the best recovery. Ideally, we want a V which represents overcoming a suddenly drastic hiccup. A K represents the gap between equities and economic strength. We're rooting for the lower path of K because that means the economy is growing responsibly and in the middle class. The upper path benefits those who already have wealth which is why the top 1% own 52% of the equities market.
In August, 344,000 government jobs were added while manufacturing filled 29,000 spots. Construction benefited from 16,000 new (or returning?) positions and mining and logging lost another 2,000 jobs.
It's awfully difficult to cut and move steel working from home.