Coronavirus could 'decimate' Latino wealth, which was hammered by the Great Recession

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Coronavirus could 'decimate' Latino wealth, which was hammered by the Great Recession
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The economic fallout from the coronavirus pandemic is dealing a hard-hitting blow to Latinos who barely recovered from the hammering they took in the Great Recession, raising the possibility of a setback from which many may not recover.

In addition, millions of Latinos and their families were left out of the assistance packages that Congress passed because those who apply must have a Social Security number. People who pay taxes with an Individual Tax Identification Number or those who live with someone who uses an ITIN to pay federal taxes also are excluded, which affects many Latino families whose members have a mix of citizenship and immigration status.

Latino median incomes rebounded to about $30,000 by 2017, about 5 percent higher than in 2007, and this February unemployment was at 4.4 percent.Pew Research reported.

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