L'ATTITUDE NETWORK NEWS

The numbers are frightening

As reported in USA Today, a shocking 57.3 million workers have filed for unemployment in the past 22 weeks.

A recent survey by the National Federation of Independent Business found that about 22% of firms that received money from the Paycheck Protection Program have already fired workers or expect to lay off at least one worker after the loan term expires.

The U.S. Census Bureau reported that 27% of adults missed their rent or mortgage payment in July. Tens of thousands of families are in danger of losing their homes, unable to pay their rent, with total back rent owed by renters already at $21.5 billion.

If enhanced unemployment benefits are not put into place by Congress, the National Bureau of Economic Research has determined local spending will decline by 44%, further impacting small business at the local level as well as local governments depending on sales taxes.

The Pandemic Emergency Unemployment Compensation program for unemployed Americans who have exhausted the 26 weeks of unemployment benefits they get from their state has grown from 27,000 people on April 1 to 1.3 million as of August 1. The number of recipients has been over 1 million for four straight weeks, increasing each week.

Census Bureau Small Business Pulse Survey shows pandemic impact

The Pulse Survey identified the business sectors that have been the most and least impacted by COVID-19. In this latest survey, 44% of respondents said they believe recovery for their business will take at least six month or longer, while 10% said they do not expect to ever recover

We compared their findings regarding the sectors impacted to the sectors of our economy that have the largest U.S. Latino employment. We know the negative impact on small business owners has been significant, which impacts 5 million U.S. Latino small businesses. In addition, the chart below indicates that the other areas with high U.S. Latino employment most negatively affected are accommodation & food services and educational services. While manufacturing is among the top six U.S. Latino employment sectors, it was not included in either category resulting from the Pulse survey.

Those sectors of high U.S. Latino employment that are among the least affected include construction, waste management & remediation, and professional services.

U.S. Latinos are Fundamental to the Coronavirus Fight and Paying the Price

This story in the Los Angeles Times calls attention to the disproportionate representation of U.S. Latinos in essential work settings such as healthcare facilities, farms, factories, grocery stores, and public transportation. For example, 28% of all medical assistants and 38% of all food processing workers are U.S. Latinos. That means their work requires them to leave home and interact with the public. That means they are at greater risk of coming in contact with infected people.

That is one reason official statistics show that U.S. Latinos are hospitalized and dying from the coronavirus at four times the rate of non-Latino
whites. A national poll released by SOMOS, UnidosUS, and MoveOn revealed additional challenges being faced by U.S. Latinos.

• For employed Latinos, more than a quarter reported their employer wasn’t providing PPE or sanitizer and that they didn’t feel safe doing their job.

• When asked about stimulus checks, 31% of US-born Latinos and 45% of Latino immigrants said they had received no payment.

• More than half reported getting no break on their April, May, or June rent or mortgage payments.

• Among Latino small business owners, 49% reported having difficulty accessing small business loans.

• Only 12 percent of Latino business owners polled between April 30 and May 12 received the PPP funding they had requested.

This may be the most important event of the year for U.S. Latinos – and you should be part of it.

September 24 – 27 is L’ATTITUDE 2020, a world-first, live-cast, on-stage, interactive, four-day event, streamed to you wherever you are, on whatever device you prefer.

L’ATTITUDE is the only business and media event focused on The New Mainstream Economy, driven by U.S. Latinos. Our national platform showcases the contributions of U.S. Latinos in business, media, politics, science, and technology. This year, L’ATTITUDE has a critical role to play in calling attention to the many ways our country is depending on the U.S. Latino cohort to help catalyze the Restart and Rebound of the New Mainstream Economy.

Your participation can help catalyze faster, more profitable growth not only among our U.S. Latino cohort, but also for our entire country. Think of this as a mini-MBA in the New Mainstream Economy and an opportunity to educate yourself in all the ways U.S. Latinos are influencing and driving the future of America. This is information you can use to help champion U.S. Latinos in your own community, identify new connections valuable to your work and career, gain new insight into business and professional ideas you can use, and to be inspired.

There is not better way to recognize Hispanic Heritage Month than to be part of L’ATTITUDE 2020. Tell your friends and peers about it. Make sure they, too, register. Get all the details, see the agenda, and REGISTER TODAY at www.lattitude.net.