This study examines if pre-existing high poverty rates among visible minority groups in Canada prior to the COVID-19 pandemic make them more vulnerable to its financial risk/impact. Using the 2016 census and crowdsourced data, the report finds that a third of respondents who were working prior to the pandemic reported job loss or reduced work hours. White participants and visible minorities were equally likely to suffer job loss or reduced hours except for Filipinos and West Asians who reported higher shares, at 42% and 47%, respectively. However, the study finds that visible minority groups had higher shares of strong or moderate income losses compared to white respondents. After controlling for group differences in job loss, immigration status, pre-COVID employment status, education and other demographic characteristics, the gap between visible minorities and white populations decreased but was still large.