NEW YORK CITY- Apartment List has released a new report highlighting the stark differences between groups of U.S. workers and which are most exposed to current economic conditions caused by the coronavirus. A disproportionate amount of the workforce fulfilling their jobs from home are high earners, while low-income workers have disproportionately seen their income dry up because of the social distancing measures put in place, according to the report.
Workers who are unable to work remotely and are employed in industries deemed “non-essential” rank the highest for economic risk. In New York these workers comprise 11.6 percent of the full-time workforce, ranking at number 19, the highest among the nation’s 50 largest metros, the report noted.
There is a stark correlation between income and job flexibility as well. Among workers who earn $100,000 annually or more, 51.7 percent say they can work remotely, compared to just 15.3 percent of those who earn $25,000 per year or less.
“Parts of the country where the local economy is rooted in the tourism and service sectors are likely to be hit hardest, while knowledge hubs will experience a softer blow,” the report said.