Posts Tagged ‘economy’

Latino-Owned Businesses Increase And Give Boost to Economic Growth In The U.S.

Thursday, January 5th, 2012

(Huffington Post) There's no argument that 2011 was a tough year for Latinos but their might be a light at the end of the tunnel.

Despite a stubborn unemployment rate for Latinos reaching 11.4 percent last month, Hispanic-owned businesses are growing at more than double the national rate, according to reports by the U.S. Census Bureau.

According to Forbes, this trend has been sustained for at least the last decade and manifests itself both in the growing number and size of Latino-owned businesses. During the latest 5-year period for which information is available from the Census Bureau, revenue from Latino owned businesses jumped by an astonishing 55 percent to nearly $350 billion.

Full story…

Latino-Owned Businesses Increase And Give Boost to Economic Growth In The U.S.

African American Workers: False Expectations About Retirement Saving

Thursday, December 1st, 2011

(The Black Man) I am an African American financial advisor. However, African Americans and people of color have been a very small part of my wealth management business—so small, in fact, that the phenomenon spurred me to discover if what I have experienced holds true across the country. I have come into contact with very educated and successful African American businesspeople, but the one consistent factor is that many of them lag behind in their saving and investing experiences.

What is more disturbing is that African American and Hispanic workers are just as likely as American workers to feel confident about their retirement security, even though their savings and preparations lag behind, according to findings of the Minority Retirement Confidence Survey (MRCS). While some differences in retirement preparation can be attributed to differences in income distribution, other findings show that minorities are less prepared  even when comparisons are made among workers with similar levels of household income.

 

Full story…

African American Workers: False Expectations About Retirement Saving

Racial Disparities Seen In Proposed Chicago Layoffs

Wednesday, November 16th, 2011

(Progress Illinois) If the layoffs outlined in the proposed Chicago budget come to fruition, labor leaders say they will greatly impact African American, Latino, and Asian workers who make up 85 percent of the cuts, according to their analysis. This could be devastating for communities already struggling with high unemployment rates.

While the national unemployment rate is 9 percent, African Americans currently battle an unemployment rate of just over 15 percent. The figure is 11.4 percent for Latinos.

Full story…

Racial Disparities Seen In Proposed Chicago Layoffs

Obama seeks support, ideas on black unemployment, housing, education

Friday, November 11th, 2011

(Washington Post) President Barack Obama acknowledged on Wednesday that black Americans have faced “enormous challenges” with unemployment under his watch, and appealed for their support in pursuing solutions that he can implement without help from Congress.

Appearing at a daylong White House summit of black business, community and political leaders, Obama said the current 15.1 percent unemployment rate among blacks is “way too high,” and that various other problems that plagued black communities before he took office, such as housing and education, have worsened.

“We know tough times,” the president said. “And what we also know, though, is that if we are persistent, if we are unified, and we remain hopeful, then we’ll get through these tough times and better days lie ahead.”

Full story…

Obama seeks support, ideas on black unemployment, housing, education

Obama seeks support, ideas on black unemployment, housing, education

Friday, November 11th, 2011

(Washington Post) President Barack Obama acknowledged on Wednesday that black Americans have faced “enormous challenges” with unemployment under his watch, and appealed for their support in pursuing solutions that he can implement without help from Congress.

Appearing at a daylong White House summit of black business, community and political leaders, Obama said the current 15.1 percent unemployment rate among blacks is “way too high,” and that various other problems that plagued black communities before he took office, such as housing and education, have worsened.

“We know tough times,” the president said. “And what we also know, though, is that if we are persistent, if we are unified, and we remain hopeful, then we’ll get through these tough times and better days lie ahead.”

Full story…

Obama seeks support, ideas on black unemployment, housing, education

Obama seeks support, ideas on black unemployment, housing, education

Friday, November 11th, 2011

(Washington Post) President Barack Obama acknowledged on Wednesday that black Americans have faced “enormous challenges” with unemployment under his watch, and appealed for their support in pursuing solutions that he can implement without help from Congress.

Appearing at a daylong White House summit of black business, community and political leaders, Obama said the current 15.1 percent unemployment rate among blacks is “way too high,” and that various other problems that plagued black communities before he took office, such as housing and education, have worsened.

“We know tough times,” the president said. “And what we also know, though, is that if we are persistent, if we are unified, and we remain hopeful, then we’ll get through these tough times and better days lie ahead.”

Full story…

Obama seeks support, ideas on black unemployment, housing, education

Foreclosures drain African-American wealth

Friday, October 21st, 2011

(St. Louis American) Recently the Pew Research Center released an alarming report highlighting the fact that white Americans now have 20 times more wealth than African Americans and 18 times more wealth than Hispanic Americans. While this came as a shock to some, it is par for the course for others.

Historically, whites have always earned and accumulated more wealth than minorities in American society. Despite this, the white-black wealth gap is the widest it has been since the census began tracking the disparity in 1984, when the ratio was roughly 12 to 1.

The collapse of the housing market bubble coupled with the recession caused median wealth to fall by 53 percent for African-American households, 66 percent for Hispanics and 16 percent for whites. One of the main reasons for such a major decline in minority wealth is due to the fact that African Americans and Hispanic Americans tend to invest heavily in their homes without investing in other asset building products such as stocks, bonds and savings accounts.

Full story…

Foreclosures drain African-American wealth

Immigration law may dent Alabama economy

Monday, October 10th, 2011

(Seattle Times) Alabama's strict new immigration law may be backfiring. Intended to force illegal workers out of jobs, it is also driving away many construction workers, roofers and field hands here legally who do backbreaking jobs that Americans generally won't.

The vacancies have created a void that will surely deal a blow to the state's economy and could slow the rebuilding of Tuscaloosa and other tornado-damaged cities.

Employers believe they can carry on because of the dismal economy, but when things do turn around, they worry there won't be anyone around to hire.

Many legal Hispanic workers are fleeing the state because their family and friends don't have the proper papers and they fear they will be jailed.

Full story…

Immigration law may dent Alabama economy

Hispanic Unemployment Steady at 11.3 Percent

Sunday, October 9th, 2011

(Hispanic Business) The unemployment rate for Hispanics in September remained unchanged for the third month, according to the Bureau of Labor Statistics. Year to date, the unemployment rate for Hispanics averaged 11.6 percent per month — from a high of 11.9 percent to the current 11.3 percent.

While the overall unemployment rate, 9.1 percent, also was changed, the total of nonfarm payroll employment increased by 103,000. Year to date, with BLS adjustments for July and August figures, slightly more than 1 million jobs have been created. That averages out to 119,333 per month.

Full story…

Hispanic Unemployment Steady at 11.3 Percent

Study: Largest U.S. group of poor kids is now Hispanic

Saturday, October 1st, 2011

(CNN) For the first time in U.S. history, the largest single group of poor children in any racial or ethnic category is Hispanic, according to a new survey.

Calling it "a negative milestone" in Hispanics' explosive growth in the United States, the Pew Hispanic Center study said in 2010, 37.3% of poor children in the U.S. were Hispanic, compared with 30.5% white and 26.6% black.

The Pew analysis of new census data put the number of Hispanic children in poverty at 6.1 million in 2010.

This negative trend has emerged as the 2010 census confirmed for the first time that Hispanics are the nation's No. 2 group, surpassing African-Americans.

Full story…

Study: Largest U.S. group of poor kids is now Hispanic
Subscribe to RSS feed