As job layoffs skyrocket, the historically low Black unemployment rate could move in the opposite direction when new employment figures are released next month.

On Tuesday (April 25), 3M, the manufacturing giant behind brands like Post-It Notes and Scotch Tape, blamed a possible recession and diminishing consumer demand for laying off 6,000 staff worldwide, CNN reports. This new round of layoffs are in addition to the 2,500 manufacturing jobs cuts at 3M in January.

This sobering news comes just days after Lyft and Deloitte, a global accounting and finance firm, announced that they were shedding 1,200 jobs each, as well as a fresh round of layoffs at Facebook and Whole Foods.

In March, companies announced nearly 90,000 layoffs, representing a sharp rise from February and an even larger acceleration from 2022, according to CNBC. The tech industry is particularly hard hit, announcing more than 102,391 job cuts so far in 2023. That’s an increase of 38,487 percent from last year.

Those staggering numbers prompted Techcrunch to keep a running list of tech job losses this year.

According to Forbes, racial minorities and women workers are the most vulnerable during times of economic instability. DEI programs (diversity, equity and inclusion) are typically on the chopping block or slated for reduced funding when corporate bottom lines are threatened.

“Halting DEI efforts may seem like a reasonable solution but leaders must recognize the long-term effects of this decision,” DEI consultant Janice Gassam Asare writes for Forbes. “Without the necessary push from HR departments and DEI teams, corporations don’t often put enough focus on hiring and retaining employees from underrepresented racial groups.”

This economic environment appears to threaten the gains achieved in the April 7 employment report that found a near 50-year low national unemployment rate of 3.5 percent, including a record low rate for African American workers.

The Black unemployment rate declined to 5 percent in March from 5.7 percent in February, according to the Bureau of Labor Statistics report. White unemployment was 3.2 percent.

Historically, the Black unemployment rate has been twice the White unemployment rate since 1972 when employment data was disaggregated by race, according to the Center for American Progress. This 2-to-1 gap has largely remained steady for decades, which the think tank blames on structural racism.