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Zorro

(15,740 posts)
Sat May 9, 2020, 08:37 AM May 2020

This is how economic pain is distributed in America

Job losses due to the coronavirus shutdown have fallen unequally on Americans according to age, gender, educational attainment and race

As the unemployment rate soared in April to its highest levels since the Great Depression, with 14.7 percent of workers without jobs, the coronavirus shutdown fell unequally on Americans according to age, gender, educational attainment as well as race.

Women became unemployed at higher rates than men. Hispanics and blacks were hit harder than whites and Asians. Those without high school diplomas fared the worst. As did teenagers, of whom nearly a third are now out of work.

The numbers, released Friday by the Labor Department, are the first to capture an entire month of stalled business activity, offering the clearest illustration to date of how economic pain is distributed among Americans.

And yet, while the numbers demonstrate a “collective crisis,” they still “don’t fully capture employment despair,” said Darrick Hamilton, an economist and executive director for the Kirwan Institute for the Study of Race and Ethnicity at Ohio State University.

https://www.washingtonpost.com/business/2020/05/09/jobs-report-demographics/
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