Dollar and discount store 2021 earnings season is on the horizon, leading us to dig into unemployment rates across the wage spectrum.
The headline unemployment rate, reported at 6.3% in January, has come a long way from the 14.8% a year ago April, and in fact has continued to improve every month since. However, the Federal Reserve believes unemployment is likely above 20% for 20% for workers in the bottom wage quartile.
The dollar and discount stores report a January 2021 stimulus-driven jump in spending by low-income households. A similar jump in spending is forecast for March.
