Connect with us

Top News

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

Published

on

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  The woman who provided coronavirus assistance was hit by a driver in Queens

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  Taylor Swift warns followers to vote early simply because Trump opposes mail-in voting

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  GOP operators fear Trump will lose the president and Senate majority

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

Portuguese historical films will premiere on 29 December.

Published

on

Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets Ptix.bm For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

More about

#History of Bermuda #A photo #Portuguese

Model: Everybody, Entertainment, Movies/Movies, History, News

See also  Everton hold the title fee of Liverpool in the Merseyside derby without a goal
Continue Reading

Top News

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS ‘There will be room’

Published

on

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS 'There will be room'

News

This is a fact or event of journalistic interest. This may be new or recent information. This also applies to the novelty of an already known situation.

Article

Mostly original text. Expresses the opinion of the author, but not necessarily the opinion of the newspaper. It can be written by journalists or specialists from different fields.

Investigative

A report that contains unknown facts or episodes with a pronounced denunciatory content. This requires special methods and resources.

Content commerce

Editorial content that offers the reader conditions for making purchases.

Analysis

This is the interpretation of the news, taking into account information that goes beyond the facts told. It uses data, brings events and scenario forecasts, as well as past contexts.

Editorial

Analytical text translating the official position of the vehicle in relation to the facts covered.

Sponsored

This is an institutional article on a topic of interest to the company sponsoring the report.

fact checking

Content that confirms the accuracy and authenticity of the disclosed information or facts.

Context

This is an article that brings subsidies, historical data and relevant information to help understand a fact or news.

special

An exciting report that details the various aspects and developments of this topic. It brings data, statistics, historical context, as well as stories of characters that are affected by or directly related to the topic in question.

Criticism

A text with detailed analysis and opinions on products, services and works of art in a wide variety of fields such as literature, music, film and visual arts.

Continue Reading

Top News

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Published

on

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

See also  Net City: Tencent is building a Monaco-sized 'city of the future' in Shenzhen

Continue Reading

Trending