COVID-19 Has Taken A Disproportionate Toll On Latino Community
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Pew Research Center Reports: Coronavirus Economic Downturn Has Hit Latinos Especially Hard
COVID-19 has taken a drastic toll on the finances of the Latino community. The Latino unemployment rate rose exponentially, particularly among Hispanic women and compared to U.S. workers overall, Hispanic workers face worse outcomes.
As the United States locked down amid COVID-19, the unemployment rate for Hispanics increased from 4.8% in February to a peak of 18.5% in April before dropping to 14.5% in June, nonseasonally adjusted.1 This exceeds levels from the Great Recession of 2007-2009, when the unemployment rate peaked at 13.9% in January 2010. Hispanic women have experienced an especially steep rise in their unemployment rate, which jumped from 5.5% to 20.5% between February and April 2020.2 By comparison, the unemployment rate for Hispanic men rose from 4.3% to 16.9% during this time. In June, the unemployment rate of U.S.-born Hispanics (15.3%) was higher than that of foreign-born Hispanics (13.5%), after the rates for both groups peaked at more than 18% in April.
Many Latinos have stated that they had a hard time making ends meet. Among the Latino community, 70% say the worst of the problems caused by the pandemic are yet to come. This is significantly higher compared to the entire U.S. adult population, which came in at 40%.
Reflecting national trends, Hispanics also hold grim views of the economy, with only 18% rating U.S. economic conditions as excellent or good in June, down from 49% in January. Yet some Hispanics express optimism about the economy’s future. About half of Hispanics (48%) say they expect U.S. economic conditions to be better a year from now, with smaller shares saying they expect conditions to be about the same (28%) or worse (25%).
Read more about the study here.
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