Connect with us

Top News

The chart shows how the economic progress of the Black Americans has stalled



The chart shows how the economic progress of the Black Americans has stalled

“Over the past half century, I would say that for many indicators, many things have stagnated,” said Ellora Derenoncourt, assistant professor of economics and public policy at the University of California, Berkeley. “The wealth gap, the income gap, the income gap.”

A typical black household has less than one tenth of a household wealth from a typical White family – almost exactly the same ratio as it existed in the 1960s, according to an analysis by Moritz Kuhn, a professor of economics at the University of Bonn in Germany.

The wealth gap narrowed somewhat in the following years, until the financial crisis more than a decade ago. More blacks become homeowners, but factors such as the continued separation of housing mean that the value of their housing – and their net worth – does not grow as much as white houseowners, said Edward Wolff, an economics professor at New York University. Also, black families tend to have higher mortgage debt rates.

The mortgage crisis that triggered the economic collapse reversed that profit. The level of home ownership among blacks has fallen from almost 50% in 2004 to a low level of 40% in recent years – a level not seen since the 1960s, according to the Urban Institute. The Congress enacted the Fair Housing Act in 1968 with the aim of banning racial discrimination.

“They were hit far harder than white families because of falling house prices,” Wolff said of Black homeowners. “Lower incomes plus the credit crunch mean that they are left out of the housing market even after 2010.”

See also  WWE's 'Last Ride' brought into the Undertaker-Vince McMahon bond

The average income of Black households grew from the late 1960s to the 1970s after several federal reforms, including the Civil Rights Act of 1964, which prohibited discrimination in employment and established an Equal Employment Opportunity Commission. This helped minimize the difference between the average income of Black and White families during that time, experts said.

Also, expanding federal minimum wage coverage for agriculture, restaurants, nursing homes and other services – where nearly a third of black workers are employed – helped narrow the income gap between blacks and white Americans during that period, said Derenoncourt, who examined the impact of The Fair Labor Standards Act 1966.

After that, the split widened again as black Americans lost their place.

The researchers point to various factors to explain the reversal, including the weakening of federal efforts to combat structural racism and the decline in trade unions, as well as an increase in the number of families led by single black mothers and in Black detention rates. Male. And while American blacks get more education, they are still under-represented in jobs with higher skills and higher wages.

In 2019, the ratio of average income between blacks and white Americans has returned to the 1970s for men and women, according to an analysis by Samuel Myers, Jr., director of the Center for Human and Social Relations Roy Wilkins. Justice at the University of Minnesota.

“We have failed to change the mechanism used to reproduce wealth, with which we reproduce skills, with which we reproduce market results,” Myers said. “And this is race related.”

See also  Joe Biden won the New York presidential election

One area where racial inequality has shrunk over the past five decades is poverty.

In 1970, there were almost four times more non-Hispanic black Americans in poverty than non-Hispanic white Americans. In 2018, the ratio will be around 2.6.

A more consistent narrowing of the gap began in the 1990s, a period of economic prosperity and a hot labor market. Also, some government programs for low and medium income Americans – such as the Income Tax Credit – are adjusted to make work more attractive. And Congress overhauled welfare in 1996, reducing aid for families and prioritizing work.

This trend continued even during the 2008 crisis, which increased financial difficulties among all Americans, and in recent years.

However, about one in five black Americans lives in poverty, said Christopher Wimer, co-director of the Center for Poverty & Social Policy at Columbia University.

“While it has gone down a lot in the last 50 years, it is still a very high number,” Wimer said.

Other areas where the gap between races is narrowed is part of each group employed. That difference has been cut by almost half since 1972, despite all the improvements occurring this decade, which saw stable job growth until the coronavirus pandemic began in March.

“In a tight labor market, African-Americans who were previously excluded now get jobs,” said Olugbenga Ajilore, senior economist at the left-leaning Center for American Progress.

Black Americans are usually more subject to economic desires than their white counterparts, he said. During the recession, the percentage of blacks who worked fell more than the whites with work. And when the market improves, White Americans were first employed.

Until the outbreak, unemployment has reached or approached 50-year lows for several months.

See also  Vietnam: How this country of 95 million has zero coronavirus mortality

Even so, the problems that have plagued black Americans for decades still exist. Employing discrimination today has put black unemployment rates at or above twice the white unemployment rate for most of the time, Ajilore said.

And the gains in the employment-population ratio do not indicate what type of work Black Americans have received – whose disproportionately low wage positions have no benefits. That one reason why they do it hit by coronavirus.

“This positive era still has fundamental problems, which make this pandemic clear,” Ajilore said.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Top News

Marseille in California. ″Where the Portuguese is, there is Portugal″



Marseille in California.  ″Where the Portuguese is, there is Portugal″

“You are the future,” President Marcelo Rebelo de Souza told a three-year-old girl dressed in traditional Portuguese clothing who came out to greet him on the podium where he spoke at Artesia Portuguese Salon. The city, located on the outskirts of Los Angeles, has not hosted the President of the Portuguese Republic since 1989. This weekend, he did it with pomp and the setting of an ornate Portuguese-American community bursting with pride.

“We have never lost the honor and responsibility of being representatives of this beautiful flag,” said Jimmy Enes, a member of Artesia DES, a Portuguese descendant, in a welcoming speech delivered in perfect Portuguese. “When we are asked who we are, we always answer”i am portuguese“and not”Portuguese-American“or ‘Portuguese American’,” he said. “That’s why we’re trying step by step to protect our heritage on the outskirts of Los Angeles, one of the greatest cities in the world.”

Continue Reading

Top News

Cristiano Ronaldo is injured by the Portuguese national team and thanks the fans for their support



Cristiano Ronaldo is injured by the Portuguese national team and thanks the fans for their support

Cristiano Ronaldo got a cut on his nose and needed a bandage (Photo: MICHAL CIZEK / AFP)

Photo: Lance!

Gratitude. It seems that the attacker Cristiano Ronaldo shared his social media with Portuguese fans after a clash with Czech goalkeeper Vaclik. In the auction, the assailant received a cut on his face and needed a bandage to stop the bleeding.

“Great game, important team win! We remain focused on our goal. Thanks to the Portuguese public for the fantastic support,” the striker wrote on his Instagram account.

The match was marked by a great performance Portugal national team, who beat the Czech Republic 4-0 to take the lead in Nations League Group 2 with ten points with one matchday to go in the group stage of the tournament. Cristiano Ronaldo ended up losing to his team.

After the match, the leader of the Portuguese national team appreciated the result achieved on the road. “It was a very important victory and all teammates should be congratulated on the result,” commented the 37-year-old striker.

With three wins, one draw and one defeat, the Portuguese team has the best attack in their group with eleven goals scored and a net difference of nine. The team is one draw away from qualifying for the tournament series. The next match against Spain is next Tuesday in the city of Braga.

+The best content in your email for free. Choose your favorite Terra newsletter. Click here!

See also  Procon Internacional receives a Portuguese version; know how to file a report
Continue Reading

Top News

Thomas Gouveia remains the best Portuguese in the Swiss Challenge



Thomas Gouveia remains the best Portuguese in the Swiss Challenge

Writing with Lusa

Tournament of the second European circuit.

Thomas Gouveia solidified his status as the best Portuguese in the Swiss Challenge this Saturday by finishing the penultimate day of the second European round robin in a group of 31st placed golfers.

Thomas Gouveia hit the card with 73 shots, one over par on the course, after two birdies (one under par hole) and three bogeys (one over), after making 71 shots in the previous two days for a total of 215.

Thomas Bessa needed 75 hits, three over par and tied for scarecrows, he finished 48th with 218 total, five short of Vitor Lopez, 60th with 223, after today needs 78, with just one bird . to fit five scarecrows and a double scarecrow.

The Swiss Challenge, which concludes on Sunday in Folgensburg, France, is still led by France’s Chung Veon Ko with a total of 206 shots, one short of Denmark’s Martin Simonsen in second place.

See also  The Mets need many things from Marcus Stroman to justify the costs of trade
Continue Reading