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The unevenness of the coronavirus’ economic impact on minorities and low-income workers is “the signature characteristic” of the pandemic and its fallout, Raphael Bostic, president of the Federal Reserve Bank of Atlanta, said on Thursday.
While the economy has made strides toward a full recovery in recent months, the upswing hasn’t been shared across communities. Unemployment rates for minorities remain elevated compared to those for white Americans; the labor force participation rate is far lower for women than men; and the racial wealth cap remains extremely wide even after the passage of several stimulus packages.
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