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Black and White Differences in the Labor Market Recovery from COVID-19

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Abstract

The ongoing COVID-19 pandemic and the various measures put in place to contain it caused a rapid deterioration in labor market conditions for many workers and plunged the nation into recession. The unemployment rate increased dramatically during the COVID recession, rising from 3.5 percent in February to 14.8 percent in April, accompanied by an almost three percentage point decline in labor force participation. While the subsequent labor market recovery in the aggregate has exceeded even some of the most optimistic scenarios put forth soon after this dramatic rise, the recovery has been markedly weaker for the Black population. In this post, we document several striking differences in labor market outcomes by race and use Current Population Survey (CPS) data to better understand them.

Suggested Citation

  • , 2021. "Black and White Differences in the Labor Market Recovery from COVID-19," Liberty Street Economics 20210209c, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:89819
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    Cited by:

    1. Bo E. Honoré & Luojia Hu, 2023. "The COVID-19 pandemic and Asian American employment," Empirical Economics, Springer, vol. 64(5), pages 2053-2083, May.
    2. Mohammed Ait Lahcen & Garth Baughman & Hugo van Buggenum, 2023. "Racial Unemployment Gaps and the Disparate Impact of the Inflation Tax," Opportunity and Inclusive Growth Institute Working Papers 073, Federal Reserve Bank of Minneapolis.

    More about this item

    Keywords

    pandemic; COVID-19; unemployment; labor force participation; race; heterogeneity;
    All these keywords.

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • I14 - Health, Education, and Welfare - - Health - - - Health and Inequality
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General

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