The March numbers tell an even more troubling story for black men and for Hispanic and Asian men and women. Black men saw a 1.2% increase in their unemployment rate, and Hispanics and Asians saw a 1.6% increase, versus a 0.9% increase for whites. The overall unemployment rates for black men, Hispanics, and Asians were 7%, 6%, and 4.1%, respectively, versus 4.o% for whites. finds similar trends.
Layoff lists are a necessary evil. Crises can hit fast, as Covid-19 did, so executives may need to compile their lists quickly. To do so, they generally look to position or tenure . Women and minorities tend to fill the most marginal, low-authority positions and to have the shortest tenures, and so they lose their jobs at disproportionately high rates. That happened during the Great Recession, when 12.5% of women but just 8.8% of men lost their jobs.
These practices have broad consequences. Job loss is hard for everyone, of course. But recovering from it tends to be harder and to take longer for members of disadvantaged groups. Women and minorities typically spend more time looking for new jobs, and the jobs they find generally pay less than the ones they left. So if you lay off women and minorities disproportionately, you don’t just hurt them; you also slow the overall economic recovery.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: latimes - 🏆 11. / 82 Read more »