The latest data on the economy say it’s totally recovered, but it still feels like a struggle for the working poor, experts say

The latest data on the economy say it’s totally recovered, but it still feels like a struggle for the working poor, experts say

Nearly two years into the coronavirus pandemic, the world eagerly awaits predictions of when — and how — the economy will recover from its largest shock since the Great . By some indicators, that recovery is already well underway. (GDP) returned to its pre-pandemic levels in the second quarter of 2021, sooner than economists' expectations. in September. For some, such indicators are reassuring: A recent survey by accounting firm KPMG found that CEOs of the world's biggest companies are already back to their in the global economy. But many experts worry that people have focused too much on the overall economy — and not enough on how those hit hardest are doing. "There's too much reporting that everybody is doing just fine and everybody's flush with cash and everybody's doing well, and that's simply not true," Sylvia Allegretto, a labor economist and co-chair of the University of California Berkeley's Center on Wage and Employment Dynamics, told Insider. "There are a lot of people that are slipping through the cracks, that are being kicked out of their homes and their apartments that never did have much spending. Those people are not doing well and their children are not doing well, and