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Black folks are not only far worse off “since 2009 under President Obama’s economic and job creation policies” – Africans Americans are the only group that “has taken a definitive step backwards since then.” The main reason: “lack of attention to employment in urban and rural geographic areas where Blacks reside.”
Here are two facts that may surprise many people.
1. Black misery has been growing since 2009 under President Obama’s economic and job creation policies. Black folks participation in the labor market has been steadily moving DOWNWARD during the Obama presidency – since 2009 when he was first inaugurated.
The rate of UNDER-employment for Hispanic Americans has DROPPED from 15% in 2009 to 12% at the end of 2012. This represents an improvement of about 20%.
The rate of UNDER-employment for White Americans has DROPPED from 10% in 2009 to 8% at the end of 2012. This represents an improvement of about 20%.
The rate of UNDER-employment for Asian Americans has DROPPED from 8% in 2009 to 6% at the end of 2012. This represents an improvement of about 25%.
But the picture for Black Americans is in the opposite direction. The rate of UNDER-employment for Blacks has INCREASED from 16% in 2009 to 20% at the end of 2012. This represents a 25% WORSENING in the rate of Black underemployment during Obama’s first term in office from 2009 through 2012.
Importantly, all the other racial groups whose members have similar education levels as Blacks are still doing better from Obama’s policies. Rather, the main the reason for this recent downward spiral in Black underemployment rates seems to be the lack of attention to employment in urban and rural geographic areas where Blacks reside. At the same time, as reported by Think Progress, “Corporations have been the overwhelming beneficiaries of Obama’s policies. Over 88% of all the dollars obtained between 2009 and 2011, 88% of national income growth, went to corporate profits, while just 1% went to wages.”
A new report from the Brookings Institution finds that school vouchers have a significant impact on the college enrollment rates of African Americans. The study tracked elementary school students who were offered tuition vouchers for private schools from the New York School Choice Scholarships Foundation. Overall, the study found that students who were part of the voucher program did not go on to enroll in college at a greater rate than students as whole. But the results showed that African American students who went to private or parochial schools under the voucher program were 24 percent more likely to enroll in college. And Black students who benefited from vouchers were twice as likely as other students to enroll in highly selective colleges and universities.
The African-American unemployment rate is at 13.8 percent, according to recently released government figures, nearly twice the 7 percent jobless rate for whites. The nation’s overall unemployment rate is 7.9 percent. For Hispanics, the rate is 9.7 percent.
A 2009 study by George Borjas of Harvard University, Jeffrey Grogger of the University of Chicago and George Hanson of the University of California, San Diego, looked at 1960-2000 Census data and found that as immigrants disproportionately increased the supply of workers in a particular area, wages of African-American workers in that area fell, the employment rate declined and the incarceration rate rose.
“Our analysis suggests that a 10 percent immigration-induced increase in the supply of a particular skill group reduced the black wage by 2.5 percent, lowered the employment rate of black men by 5.9 percentage points, and increased the incarceration rate of blacks by 1.3 percentage points,” the professors wrote in the study.
“An Obamapologist is someone who actively looks for every excuse under the sun to explain away questionable and harmful behavior that president Barack Obama does.”
Originally posted by WaterBottle
Are you a republican?
Income inequality has increased under Obama. Corporate profits are at historic highs while middle incomes are dropping. The Fed under Obama is flooding multi-nationals with cheap dollars that they invest in emerging markets overseas.
Each year, the world's greatest financial minds gather in Davos, Switzerland, to discuss the state of the global economy at the World Economic Forum. For the second year in a row, the Forum considers income inequality one of the most important risks the world has to battle.
In a series entitled "The Great Divide: Global Income Inequality and Its Cost," GlobalPost takes a unique approach to the issue, putting the state of economic inequality in the United States in a global perspective.
The results may cause us to rethink America's place as a global economic superpower. According to GlobalPost's report, the gap between rich and poor in the U.S. rivals that of developing nations, ranking America as a whole toward the bottom of the income inequality barrel. Among developed nations, only Chile, Mexico, and Turkey have higher income inequality than the U.S.
Originally posted by severdsoul
No wonder racism still exist...
post like this are a great example.
Blacks this, whites that, hispanics the other..
Sad, but a real part of life.
MLK had such great dreams, stereotyping such as this was not
part of them.