In our series “Financial Fallout,” “CBS This Morning” looks at the economic costs of the coronavirus pandemic and how it affects communities across the country.
Even though thedoesn’t discriminate, the financial impact of the pandemic is hitting the pocketbooks of minorities the hardest – and the numbers tell us they’re struggling to stay afloat.
With national unemployment figures at their highest levels since the Great Depression of the 1930s, African Americans have been hit especially hard;.
The coronavirus has also forced a record-breaking number of small businesses to close, at least temporarily. There was a 41 percent decline in black business owners from February to April, and a 32 percent drop in Latino business owners. That’s compared to a 17 percent decrease in white business owners.
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