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The economy is recovering (albeit at a slower pace under Biden) and the stock market is at record highs, but traditional economic metrics are obfuscating just how concentrated the recovery has been to the nation’s largest firms. For the most part, big companies had balance sheets strong enough to help them weather the pandemic storm, especially in the early months when lockdowns were strongest, and most states had stay-at-home orders. Small businesses weren’t so fortunate, and many of those formally employed by them became reemployed by their larger competitors.