Joe Biden emphasizes economic inequalities between races and denounces Trump’s pandemic response.
Joe Biden condemned President Trump for failing to efficiently tackle the COVID-19 pandemic and for neglecting the economic inequality between races in the U.S.
“Donald Trump’s failures have been on full display this week,” the statement read.
More than 42 million Americans filed for unemployment in the last three months, with unemployment rates almost twice as high for communities of color. In April, 11 percent of white adults reported losing their jobs, and the figure surges for Black and Latino adults, at 16 and 20 percent, respectively.
With the unemployment numbers from May expected this Friday, economists surveyed by the Dow Jones are expecting a 20.5% unemployment rate, more than double the last highest number since the Great Depression.
Narayana Kocherlakota, an economist at the University of Rochester, estimates that recessions impact Black people 1.9 times harder due to a myriad of factors, including bias, employment segregation, and historical inequities.
Plans for economic recovery and inequality
In the weeks ahead, Biden will focus on plans for economic recovery and inequality. The disadvantage faced by communities of color was evident in the disbursement of COVID-19 recovery funds. Black-owned businesses are at risk of being shut out of federal aid programs and research shows that Black and Latino business owners are more frequently denied loans.
In his statement, Biden said, “we cannot allow this crisis to disempower or inflict further economic pain on Black and Brown people in our society. We must turn this moment into an opportunity to rebuild our country upon more just and equal foundations, not widen race-based wealth and income gaps.”