Inequality for blacks and Latinos has worsened over time. Whether measured by wealth, income or jobs, the picture is dismal. Blacks and Latinos make up 27% of the workforce and 40% of all unemployed workers.
Black unemployment is 14.1% and Latino unemployment is 10.7%. One way the government can help reduce unemployment among blacks and Latinos is by promoting business development among the groups.
To build greater capacity firms must reach reach Stage III growth. Only 14% of the non-minority-owned firms have done so, 12% of Asians, 11% of Latinos and just 6% of black businesses.
In 2011, Hispanic/Latino small businesses earned $5.8 million in annual revenue and had 22 workers. The largest Industry was construction, where revenue was $14.7 Million: based on the Gazelle Index national survey of small businesses.
