Spotlight on COVID-19: The deepening economic insecurity and racial inequity

In the summer of 2020, the COVID-19 pandemic created an economic crisis that pushed the unemployment rate in New York City to approximately 20 percent. Nearly half of all New York City workers and more than half of low-wage workers, who are predominantly Black and Hispanic, lost employment income during the height of the outbreak. Poverty Tracker data illustrate how New Yorkers who were already in precarious economic positions bore the brunt of the initial economic fallout associated with COVID-19 and how New Yorkers of color are overrepresented among those who have endured losses.

Past economic downturns have shown that already vulnerable people suffer the most. Federal policy aimed at steadying the current economic crisis was temporary and left many families out. New York City and State provided additional, but also temporary support. To truly address disadvantage and inequality, policymakers and advocates must advance policies that aim to stabilize the economy, protect New Yorkers from economic insecurity, and reduce racial inequities. This includes policies like a living wage, adequate unemployment insurance, child allowances, affordable housing, and universal access to paid sick leave, medical care, and broadband internet. Instead of a “return to normal”, we need to reimagine how our institutions and policies respond to the current economic crisis and to historic economic inequality in order to better serve the people of New York City.

To learn more, read the latest Poverty Tracker report on lost employment income during the COVID-19 pandemic.

The Poverty Tracker is a longitudinal study of the dynamics of poverty and disadvantage in New York City. It is a joint project of Robin Hood and Columbia University.