Economy Now
Black workers' unemployment gap
February 6, 2013: 11:14 AM ETThough blacks' job prospects have improved from the depths of the Great Recession, they still suffer from disproportionately high unemployment.
Pegged to Black History Month, the U.S. Congress' Joint Economic Committee put out a stats sheet highlighting the gap. It takes longer, on average, for black workers for find a job, and even having a college degree doesn't help as much as it does for other job-seeking populations. The black unemployment rate is currently 13.8% unemployment rate, far higher than the 7.9% national rate.
"Congress can help ensure that the economic situation of black workers and their families continues to improve by supporting programs that provide assistance to those who are struggling to make ends meet and examining new approaches to alleviating unemployment and poverty," the bipartisan JEC wrote in its release.
Take a look at the numbers:
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Whites have 20 times more $ than blacks
The racial wealth gap between black and white Americans might be wider than you think.
Consider this: The median household wealth of blacks was a mere $5,677 in 2009, just 5% of the $113,149 median wealth of whites, according to the Pew Research Center.
That chasm of difference in financial assets is one reason why black families are seven times more prevalent in homeless shelters than white families, according to a new MORE
Tami Luhby - Mar 5, 2012 9:13 AM ET
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