Index: Inequality in job losses low as pandemic more under control
Vaccine rates are increasing and COVID-19 cases are declining, which is opening up businesses and driving job growth that looks broad, making inequality in actual job losses relatively low, according to the Morning Consult/Axios Inequality Index.
What it means: This data is based on whether or not survey respondents have lost pay or income in the past four weeks, rather than whether they are worried about losing it. This is also represented as standard deviations.
By the numbers: With a reading of 1.7, the employment outcomes metric is the lowest of all four index components.
What we're hearing: "While the employment outcomes graph looks a bit flat, it did fall pretty notably over the past few months," Morning Consult chief economist John Leer says in an email.
Between the lines: "That dataset is looking at the share of people who have lost pay or income, so if you've lost your job once and are still looking for work, you are unlikely to be counted as losing your job again," he adds.
- "This explains why it looks a bit flat compared to financial vulnerability, a factor that can fluctuate more dramatically."