March 2, 2022 — Issue Brief

Systemic racism in employment, housing, and credit led to disparities in wealth and economic
opportunity for consumers of color long before the coronavirus pandemic. Now, with the
enhanced child tax credit and other COVID-related economic supports expiring, lower-wage
families and consumers of color will further struggle economically. Women – who bore a
disproportionate share of job loss, wage decrease, and caregiving duties – will shoulder the
worst of the economic impact. The unemployment rate remains persistently high for Black
workers, particularly Black women even though the U.S. unemployment rate declined last year.