The country is celebrating the 50th anniversary of Dr King’s speech and the second inauguration of of a Black President. However, for the vast majority of African-Americans, Dr. King’s dream is still far from a reality. In December Black Adult unemployment was 14% and teenage unemployment, 40.5%.
The President and Congress are struggling to find ways to reduce the large number of unemployed workers, especially among African-Americans, and to a lesser extent, Latinos. The solution is easy – provide greater support to minority businesses.
Last month, the economy created a large number of jobs, but black unemployment increased from 13.4% to 14.3%. With the presidential election over, it is time now to address the crushing burden of unemployment among blacks.
The economy continued to grind along slowly and did not show any signs of moving away from its current growth path of 1.5%, neither in an upward nor downward direction. Things not expected to change soon.
