Job Losses in 2020 Were Worst Since 1939, With Latinos, Blacks, Teenagers Among Hardest Hit

COVID devastated the US economy in 2020, with Latinos among the hardest hit by the 9.3 million lost jobs.

December capped the worst year for U.S. job losses in records tracing back to 1939, with Hispanics, Blacks, teenagers and high-school dropouts hit particularly hard.

In 2020, the economy shed a net 9.37 million jobs, exceeding the 5.05 million jobs lost in 2009, in the aftermath of the global financial crisis.

Hardest hit last year were hotels, restaurants and related industries, driving up unemployment among minorities, the young and less educated workers—groups already disproportionately hit by the economic effects of the coronavirus.

Unemployment rates among those groups shot up in April, after the pandemic hit, and then started to decline. Then, cold December weather triggered another big increase in joblessness.

Read more HERE.

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