Under Obama, blacks remain far behind in unemployment and wealth
Millions of African-Americans are worse off economically than four years ago, Bloomberg News writes, although many of the challenges they have faced long preceded President Obama...
Millions of African-Americans are worse off economically than four years ago, Bloomberg News writes, although many of the challenges they have faced long preceded President Obama.
“Today’s 14.1 percent black unemployment rate is almost twice the 7.4 percent white rate, and the racial gap — after narrowing from 2005 to 2009 — has widened since the recession’s June 2009 end. At Obama’s inauguration, 7.1 percent of whites were jobless compared with 12.7 percent of blacks,” Bloomberg writes. “Amid a fitful economic recovery over the past three years, black households’ median annual income fell 11.1 percent, more than twice the 5.2 percent inflation-adjusted decline suffered by white households, according to an analysis of Census Bureau data by Sentier Research.”
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