Tuesday, May 26, 2009

Dr Boyce Money: Barack Obama and Black Unemployment

by Dr Boyce Watkins


About a week ago, I received a call from a radio show host who was practically screaming through the phone. I wasn't sure if she was in labor with her first child, running from a mass murderer, or had just seen Denzel Washington in her bathroom shower. I figured that whatever she was screaming about, it had to be important.

When the radio show host informed me of the source of her discomfort, I was ready to scream myself. The black unemployment numbers, while typically absurd, had reached (in TSA language) threat level orange. During the month of April, while white unemployment nation-wide rose by only .1% (to 8.0%), black unemployment rose by a shocking 1.7% (to 15%). This means that black unemployment grew by 17 times more than white unemployment and is nearly double the rate of white America. Yes, it's time to be alarmed.

Unemployment has dropped in 21 states. The US is starting to see scant signs of an economic recovery (I'll admit that my stock portfolio is no longer on life support). The stock market has risen dramatically over the past 2 months and could be even more bullish after this week. Yet, black America is getting hammered relentlessly by the economic downturn. Not trying to bother you President Barack Obama (I know you're kind of busy with that whole North Korea thing), but do you have anything to say about this?

Continue reading Dr Boyce Money: Barack Obama and Alarming Black Unemployment

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