The U.S. economy has been dancing along the edge of a recession for more than a year. But despite dodging an official designation, the pain points of a recession are still being felt by some workers — particularly workers of color.
As job growth continues to slow, the unemployment rate for the BIPOC community continues to climb, and currently sits at nearly twice that of white people — almost 6% compared to 3.5% — according to the Bureau of Labor Statistics. In 2022, the racial wealth gap grew to 30%, with only 45% of Black families owning a home, compared to 75% of white families, according to the American Civil Liberties Union.
