Recession

Barack Obama endured one of the most difficult days of his post-presidency on Wednesday, and while the blows were severe, the call outs were legitimate.

The effects of the Great Recession that began in late 2007 have never dissipated fully, or at all. And that was especially true for Black people. Another recession would be disastrous.

The Obama administration on Thursday highlighted initiatives in housing, education, the workforce and health care designed to help foster a better economic environment for African Americans as the nation continues to emerge from the financial recession.

The National Urban League‘s 38th annual “State Of Black America” report highlights that job creation in the country is of smaller benefit to Black and Latino workers when compared to their White counterparts. The sobering numbers also show the impact of underemployment among African-Americans, who top the list in that category as well. SEE ALSO: 192K […]

The recession seemed to affect African Americans more than any other group, and we are still seeing it in our unemployment rates. What can we do to combat it? Marc Morial of the National Urban League gives insight. “This growing economy gap,” he said, “this income inequality that is on the rise in this country […]

The Motor City is financially strapped, trying to dig out of a $265 million deficit and saddled with more than $12 billion in long-term debt.   In addition to its cash-flow problem is a shrinking population, so the city’s governing body is considering turning off half of its streetlights in sparsely populated areas in order to save money, reports the New York Daily News. […]

OSAWATOMIE, Kan. –President Barack Obama is taking aim at the nation’s income disparities, declaring that the middle class faces a “make or break moment.” He tells a Kansas audience that Republicans embrace a discredited “you’re-on-your own” style of economics. ALSO SEE: How Jerry Sandusky Played The New York Times All Eight Sandusky Accusers To Testify […]

Millions of American school children are receiving free or reduced lunches for the first time as America’s economic downturn has left many middle-class families struggling to make it. See also: California Schools Move Ahead With Healthier Meals Despite Backtrack In Congress The number of students recieiving subsidized lunch rose 17 percent since the 2006, according to […]

While America’s economic downturn has been devastating to the middle class as a whole, middle-class African-American government workers have suffered disproportionately in terms of layoffs and unemployment. See also: First Black American Billionaire, Proposes Plan To Reduce Black Unemployment About one in five black workers have public-sector jobs, and according to economists and recent government data, tens […]

As the sluggish American economy continues to limp forward, many Black Americans from the public sector are getting pink slips. These layoffs are eroding much of what is left of the Black middle class.  A recent article in The New York Times says: “Jobless rates among blacks have consistently been about double those of whites. […]

A new study reveals that Hispanics and not African-Americans have been hit the hardest during the recession. The study, released by the Pew Foundation with data collected from the Census Bureau, indicates that Hispanics have had the largest wealth decline of any group since the country went into a recession. Hispanics households median wealth declined […]

WASHINGTON — For the first time, American women have passed men in gaining advanced college degrees as well as bachelor’s degrees, part of a trend that is helping redefine who goes off to work and who stays home with the kids.