The new coronavirus racial divide

Bloomberg Equality
Bloomberg

The world has begun to adjust to its new pandemic reality, and it's becoming clear who has been left behind and who has made out OK, at least so far. White America had an advantage from the get-go, receiving more small-business relief program loans than businesses in predominantly minority areas. Hispanic women have been hit particularly hard as industries with higher percentages of Latino workers—like the food service, agricultural and food manufacturing industries—succumbed to the pressure of state shutdowns, sending Latina unemployment skyrocketing by more than 10 percentage points in just a few months.

Some economic disadvantages have yet to manifest themselves. Covid-19 clinical trials aren't representative of Black and Latino populations, despite their having suffered far more from the virus. Treatments that end up being less effective for minority populations would not only create a critical health divide, but keep those groups from returning to school and work. Recovery, when it comes, could further widen the pandemic's disparities. —Marin Wolf

Did you see this? 

The life of U.S. Representative John Lewis was celebrated Thursday at Ebenezer Baptist Church in Atlanta. Three former presidents eulogized the long-time civil rights leader.

Big businesses love to talk about diversity, but almost none disclose the race and gender data they report to the government each year.

Companies with more women on executive boards are more profitable, according to a U.K. study. The newest stock exchange on Wall Street, Members Exchange, may have noticed that trend: Its board will be half men and half women.

U.S. employers are now assured of their right to fire workers for offensive statements, even if made to highlight workplace conditions, thanks to a new National Labor Relations Board decision.

A former economist for the Federal Reserve says the profession is racist, sexist and elitist. In his presidential campaign, former Vice President Joe Biden is calling for more diversity at the central bank.

Ghana's finance minister says global investors are prejudiced against Africa.

In European retail, men decide how women will dress.

The U.K. is supporting research to explain the high risk of severe Covid-19 cases among ethnic minorities.

We love charts

Who is commemorated most by American statues? The top eight are all white men, and the top three are an emancipator, a slaveholder and an enabler of colonial genocide, according to a Smithsonian inventory of sculptures.

The Black dollar

U.S. businesses can't afford to ignore Black citizens any longer, writes Bloomberg News Senior Executive Editor Jacqueline Simmons. Black Americans weren't surprised by what happened to George Floyd and countless others who preceded him. Floyd's agonizing death on camera, along with pandemic-induced lockdowns, shed light on how badly U.S. society has failed the Black community. Black unemployment was 15.4% in June, the highest among race categories. Meanwhile, 26% of Black-owned businesses shuttered from February to May, compared with 11% of White-owned businesses. The disproportionate Covid-19 death toll in Black and Latino communities is exacerbated by poor access to health care and a workforce that skews toward industries with greater risk of exposure to the virus. And while these are just some of the reasons this particular moment in history has seized the public's attention, here's another: There are too many of us to ignore. The U.S. is quickly becoming a minority-majority country. Racial and ethnic minorities accounted for all the nation's population growth in the past decade. In pure economic terms, we can't be overlooked.

 

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