Getting Ready for Geithner
Posted in Main Blog (All Posts) on March 24th, 2009 4:43 am by HL
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Black and Latino communities have long suffered significantly higher unemployment rates than those of whites, but the economic collapse is taking labor inequity to new and alarming places. Jobs data shows that blacks and Latinos aren’t just more unemployed overall, but they’re losing jobs faster than their white colleagues.
AP via Yahoo:
Much of the disparity is due to a concentration of Latinos and blacks in construction, blue-collar or service-industry jobs that have been decimated by the economic meltdown. And black unemployment has been about double the rate for whites since the government began tracking those categories in the early 1970s.
But this recession is cutting a swath through the professional classes as well, which can be devastating to people who recently arrived there.
Since the recession began in December 2007, Latino unemployment has risen 4.7 percentage points, to 10.9 percent, according to the Bureau of Labor Statistics. Black unemployment has risen 4.5 points, to 13.4 percent. White unemployment has risen 2.9 points, to 7.3 percent.
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