Black Leader in New Orleans about the Economic Devastation and Deaths from the Wuhan Virus: “We are in the quiet time before the storm.”
From the Wall Street Journal:
Black residents make up 32% of the state’s population but 55% of its deaths from Covid-19, the disease caused by the novel coronavirus. The numbers are similar in New York, Chicago, and across the country.
Economists and civic leaders are warning that the deaths are only the start of what could be a devastating setback to black communities in America. Black workers are losing jobs at elevated rates and are less prepared for the shock.
…There are few places in the U.S. worse suited for this particular recession than Louisiana and New Orleans.
The economy relies heavily on tourism and energy, two industries in a deep spiral. Last month, Moody’s Analytics said Louisiana was the state worst prepared for this recession.
Since the middle of March, more than 630,000 people have filed for unemployment insurance. That is 30% of the state’s labor force…
This chart is from Business Insider, which dramatically illustrates the situation: