US labor shock from pandemic hit women of color hardest; will it persist?

WASHINGTON: One of the positive turns that the U.S. economy took during a decade-long recovery through 2019 was a steady rise in the share of women looking for work and working.

The coronavirus has seized back those gains, and sparked another debate over whether reduced participation will persist.Recessions typically fall hardest on racial and ethnic minorities, due to bias as well as a last-hired-first-fired dynamic. During economic expansions, job gains typically flow last to those groups, which means less seniority when downturns arrive.

The result: Not just lost jobs, but a departure from the labor force altogether that can recast demographics of who works and earns, who can buy a home, invest, or help children pay for college. The blow has fallen hardest on women of color. Since February, the number of Hispanic women in the U.S. labor force has fallen nearly 7 percent, the number of Black women declined 5.6per cent, and the number of white women by nearly 3per cent. That compares to a drop of just 1.7per cent for white men and less than 1per cent for Hispanic men. The drop for Black men was more than 4per cent.That question will determine the quality and breadth of the U.S.

Source: Financial Digest (financialdigest.net)

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tenet tops US$300 million globally but US box office is in crisis modeThe Christopher Nolan film struggled to attract American audiences with the kind of fervour that typically greets his other movies, such as Inception and Dunkirk
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US bioplastics firm Danimer agrees US$890 million deal to go public: sourcesDanimer Scientific has agreed to go public by merging with blank-check acquisition company Live Oak Acquisition Corp , in a deal that values the U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

One killed, about 20 missing in floods in France and ItalyPARIS/ROME: A fireman died and about people were missing in France and Italy after a storm hit border regions of the two countries, causing heavy ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

CAG earnings hit by one-off impairment charge, pandemicWEIGHED down by a one-off impairment charge and turbulence from the pandemic, airport operator Changi Airport Group (CAG) saw its net profit for the financial year ended March 31, 2020 slide 36 per cent year-on-year to S$435 million. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

How one piece of hardware took down an $8 trillion stock marketTOKYO (BLOOMBERG) - At 7:04am on Thursday (Oct 1) in Tokyo, the stewards of the world's third-largest equity market realized they had a problem.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Beer-drinking Barty to stay world number oneIn a sign of tennis's topsy-turvy 2020, Australia's Ash Barty will remain the women's world number one at the end of the year despite having ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »