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New York — Peter S. Goodman at The Huffington Post has written an article on the effects of the recession on Black America in comparison to its affect on white America.
Read MoreAmong white people, the unemployment rate dropped in December to 8.5 percent — hardly acceptable, but manageable were the government spending more to expand a fraying social safety net and generate jobs. For black Americans, the unemployment rate was 15.8
The US recession lasted 18 months and was the most prolonged since World War II, a report has concluded.
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FROM AOLNews.com:
Middle-class black Americans dipped into their retirement accounts to stay afloat during the recession at a higher rate than their white counterparts did, broadening the “retirement gap” between whites and African-Americans, according to a new study.
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In a groundbreaking report released Monday by a leading economic research group, social scientists turned a spotlight on the financial challenges facing an often overlooked group of women, many of whom could not take an unpaid sick day or repair a major appliance without going into debt.
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Hopefully this is a sign that the market is improving.
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Race remains a serious obstacle in the job market.
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