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New research illustrates recession employment inequality in U.S.
April 6, 2021 SHARE
Unemployment fell to 6% in March, according to an April 2 U.S. Department of Labor report. The strongest gains were in leisure and hospitality and construction. The news was better than expected, but aggregated data doesn’t always tell the full story according to economists at Washington University in St. Louis. The unemployment rate in March for white Americans was 5.4% while it was 9.6% for Black Americans.
Generally speaking, recessions disproportionately hurt economically disadvantaged groups. The current recession created by the COVID-19 pandemic is no exception. It has especially impacted women particularly Black and Hispanic women and less educated workers, magnifying existing U.S. employment inequality, according to new research conducted by Steven Fazzari, the Bert A. and Jeanette L. Lynch Distinguished Professor of Economics in Arts & Sciences, and senior Ella Needler, an econ
The American Rescue Plan is a remarkable effort to jump-start the U.S. economy unprecedented in scale outside of major wars and will lead to very fast growth of the U.S. economy over the next year, according to Steven Fazzari, director of the Weidenbaum Center on the Economy, Government and Public Policy at Washington University in St. Louis.
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