The next recession might hit the wealthy more — and a 'richcession' could be good news for low-wage workers

Jan 5 2023 by Business Insider

 
Elon Musk.

Muhammed Selim Korkutata/Getty Images

The next recession could be a "richcession," according to the Wall Street Journal. That's because high-earners are facing layoffs, and seeing their massive stock holdings tank. Meanwhile, lower earners are seeing wages grow and continued job opportunities.

As the economy continues to be in a will-they, won't-they relationship with a recession, numbers are showing that the possible downturn might not look like previous ones.

That's because, as the...

Continue Reading The next recession might hit the wealthy more — and a 'richcession' could be good news for low-wage workers