In certainly not breaking news, two new studies have found that it’s hard to be black and a woman in America. According to the National Women’s Law Center analysis of recent jobs data from August 2013 to August 2014. Unemployment for black men has fallen nearly 3 points from 13.4 percent to 10.8 percent. The unemployment rate for black women however? It’s remained stagnant at 10.6 percent.
In more depressing news, the Federal Reserve’s 2013 Survey of Consumer Finances finds:
While the median white family has a net worth of $134,000, figures drop precipitously for families of color. As of 2013, the median Hispanic family’s worth is $14,000. The median black family has a net worth of $11,000.
Let’s go equality and pulling bootstraps! Sigh.
Team Blackness also discussed Chuck D.’s controversial thoughts on Ray Rice’s actions, why DiGiorno shouldn’t crash discussions on domestic violence, and the irony of a mayor of a “dry” Alabama city getting arrested for drunk driving.
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Elie
Wow! The gap I knew was big — but THIS big? It couldn’t have been too much bigger in South Africa during apartheid…
This is not only bad from a moral perspective. It is destabilizing as most of the US moves towards brown and black for the majority population….
What was also interesting was that the bottom 75% of whites have 2 % of white wealth…or something like that.
I have no problem with wealth, but this much disparity is not earned by the rich, but a result of undue power that they exert on the legal and political system. This has to stop
WereBear
Well, it’s a double whammy, isn’t it? Two oppressed groups in one!
rikyrah
Knew these numbers. they haven’t changed, and the Great Recession only made them worse.
Cannot talk about Black unemployment without talking about the loss of public sector jobs and the impact of them on the Black community. Public sector jobs cut by GOP Governors.
Lynn Dee
Holy cow. Those figures are jaw-dropping. Just incredible.
Elie
@rikyrah:
But you know, what we CAN control — voting.. well we MUST do that. Blacks and Browns MUST vote…Does voting solve everything? No — but it lightens one of the fingers on the scale….
We must vote and we must try as hard as we can to get the young’uns educated.
Mnemosyne
@rikyrah:
That, and the housing market crash — I know a HUGE number of people who lost their houses because they were underwater on their mortgages. And usually the #1 thing they count when it comes to “wealth” is your house, because it’s the biggest asset most people own.
ETA: Add in the fact that multiple studies have shown that black folks with good credit were steered into risky mortgages, and the number of people who lost their houses goes even higher.
Elie
@WereBear:
Three actually. Poor whites aint doing so good either. If they would wake up, we could do a lot of good for everyone in this country…
Elie
Its the political power we have to shift. It starts local and moves up the chain.
That and waking up poor and working class white people. If they can ever get over having white skin as the supreme good, we can get them some more money. Honestly… its up to white people to teach your brethren about this… most certainly black people can’t — they won’t allow brown and blacks to teach them anything
moderateindy
Get over it blackies, don’t you know that the only discrimination left is against white people. It must be true, I heard it on Fox. I’m not a racist, but……………..