The One-Two Punch to Black America

Prognosis: Misconception

Bloomberg

Health & Fitness, Science

4.1 • 838 Ratings

🗓️ 16 April 2020

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

As data about the health outcomes of the new coronavirus come in, it's clear that black people are dying at disproportionate rates to their percentage of the population. But a new report shows it’s not just black Americans’ health that will suffer. The virus will likely have a devastating effect on their jobs and future earnings. Donald Moore talked to researchers about the economic and physical traps the virus is setting for the demographic.

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0:00.0	The forces shaping markets and the economy are often hiding behind a blur of numbers.
0:04.8	So that's why we created The Big Take from Bloomberg Podcasts, to give you the context you need to make sense of it all.
0:11.5	Every day in just 15 minutes, we dive into one global business story that matters.
0:16.1	You'll hear from Bloomberg journalists like Matt Levine.
0:19.1	A lot of this meme stock stuff is, I think, embarrassing to the SEC.
0:23.3	Follow the Big Take podcast on the IHeart Radio app, Apple Podcasts, or wherever you listen.
0:32.1	Welcome to Prognosis. I'm Laura Carlson. It's day 36 since coronavirus was declared a global pandemic.
0:43.3	Our main story today? The disease is assault on the Black community. The number of dead and very sick from COVID-19 show the outbreak has disproportionately affected black Americans.
0:57.0	But it's also dealing an economic blow to the demographic that will be difficult to recover from.
1:03.5	But first, here's what happened today.
1:20.8	More than 5 million Americans filed for unemployment benefits last week, bringing the total to 22 million over the last month.
1:25.4	It's the fourth week of astronomical levels of jobless claims.
1:30.3	The level of unemployment is now so high it effectively erases a decade's worth of job creation. The CEO of Airbus said on a call with investors
1:37.3	that the global aerospace sector is facing its greatest challenge ever. Demand at the world's biggest plane maker has slumped, as airlines, suffering without passengers,
1:49.8	ground planes, and slash orders for new ones.
1:53.9	The numbers are just the latest in a string of signs the novel coronavirus continues to wreak havoc
2:00.0	on individual paychecks and businesses alike.
2:04.0	And President Donald Trump is once more talking about reopening parts of the economy.
2:10.0	The president told U.S. governors on a conference call today that some states would be able to
2:15.5	reopen businesses in schools before May 1st, when
2:19.2	federal social distancing guidelines are set to expire. It's not clear that individual governors
2:25.6	will follow guidelines set by the president, though. Also today, New York Governor Andrew Cuomo
	...

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