The covid-19 outbreak has brought everyone’s lives to a halt, and it’s been more than a year already, and the prospects of living a fairly normal life remain uncertain. Especially now, when the country’s economy is supposed to be steadily improving, the jobless rate for African Americans is still almost double that of whites. These statistics are now rather bizarre and worrisome, and individuals have begun to express their concerns to the appropriate authorities. According to a recent Progress Illinois study, the state’s Black unemployment rate is among the highest in the country. You might also be interested to see: hire black official site
According to the Economic Policy Institute (EPI), only New Jersey and South Carolina have greater Black unemployment rates than Illinois. D.C. had the highest Black unemployment rate in any of these states, at 14.2 percent, while Tennessee had the lowest, at 6.9 percent. According to Progress Illinois, Illinois’ unemployment rate fell to 11.5 percent in the second quarter of 2015. The national figure has dropped to around 9%. Also take a look at black hiring job portal here
However, when compared to the white unemployment rate of 4%, the Black unemployment rate is twice as high, according to the Bureau of Labor Statistics. According to recent statements from an economist who did the unemployment analysis, African Americans are still significantly underemployed in nearly every state when compared to their white counterparts, who have a higher overall rate of employment. He also urged on the resurrection of previous policies, which should focus on lowering the unemployment problem to pre-pandemic levels as the primary aim.
With all of this going on, another statement released by one of Popular Democracy’s strategists claimed that, despite the improved economy, Black Americans are still in the midst of a Great Recession. This is a critical juncture because the Federal Reserve urgently needs to promote measures that benefit Black Americans. However, there is a minor issue: the Feds want to raise interest rates, which may affect millions of employees. They are considering deliberately slowing the economy and employment growth, which would make it more difficult for most Americans, particularly Black Americans, to get high-paying work.
As a result, businesses benefit significantly from a tight labor market since there is no competition in the employment market. Employers may abuse their employees since there are hundreds of individuals waiting outside to replace them, allowing them to simply fire and recruit new workers. We, the people, must insist that the Feds support policies that lead to a full-employment economy.
We witnessed a full-employment economy in the late 1990s, which essentially reduced racial disparity and reaped specific advantages for Black workers, who were predominantly unemployed, underemployed, underpaid, and had more challenging scheduling situations in the workplace. According to studies, Black males with college degrees had greater unemployment rates than white men with only a high school diploma. Economists, on the other hand, claim that the growing economy is making life simpler for all Americans, especially Black people. Once economic progress has been achieved, it is critical that we reach out to those who dwell in the shadows.5