The most fundamental indicator of a group’s involvement in the economy is the employment rate, otherwise known as the employment-to-population ratio, which reports the fraction of a group that is employed at any given time. Historically, there are marked differences in the employment rate by race, with the greatest differences between Black and white populations. These differences reflect longer-term variances in opportunities; however, they also reflect the greater sensitivity of minority employment to recessions. That is, minority employment tends to be affected more deeply by recessions than does white employment. Racial disparities in the employment rate tend to grow during recessions and shrink during expansions. Both the pandemic-related decreases in employment and the subsequent recovery have been broad-based, but employment losses have tended to be more persistent for Hispanic populations.