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They almost certainly do not. Certainly not to go for 4-8 weeks without a paycheck. I read a while back that a $400 unexpected expense could break 1/3 of American workers. They are paycheck-to-paycheck. They cannot afford to be out of work.


We don't know if those 1/3 of workers are the same ones who lost their jobs.

It is certainly possible that *many* that got laid off or furloughed are not on the low end (the 1/3). For example numerous airline workers and other travel/hotel workers were let go and may not come back soon...including pilots and hotel managers. There are also many health care workers furloughed because they were not in essential services...including doctors and nurses. Restaurants are probably mostly minimum wage workers, but higher end restaurants where the waiters make big tips are mostly closed or doing a small take out business compared to the fast food places that can remain mostly open with drive throughs. I see dozens and dozens of cars lined up with special traffic control at places like In-N-out and Chick-Fil-A.

So I'm not arguing that I know the relative numbers in each group, just that it not obvious.

Mike
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