Business
Economic recovery hardly reaching African Americans – report
Jamal Randle, from left, Loren Cowling, and Dave Jackson fill out applications for jobs Sept. 25, 2009. PHOTO/Paul Sancya/AP Photo
The benefits of the economic recovery that started in 2009, such as higher wages, more job opportunities and increased rates of homeownership, are reaching African-Americans much less than other demographic groups, according to a report released Thursday by the Center for American Progress (CAP), a liberal think tank.
Citing a variety of measures, including the continuing elevated unemployment rate among African-Americans, the CAP authors conclude that, among blacks, “employment, income, wealth, and homeownership–grew much slower than those of Latinos and declined in relation to those of Asian Americans and whites” over the last two years. The report examines data from June 2009, when the recession officially ended, to the end of the last year.