(Image: iStock.com/Jacob Ammentorp Lund) Job losses for African Americans could reach 4.5 million individuals in the next 10 years, according to a report from the consulting company McKinsey & Co. The report, called “The Future of Work in Black America,” details the challenges American workers will have in the coming decade due to automation in…
Tag: Unemployment
Black Unemployment Rate Falls to a Record Low
Over the weekend, the unemployment rate amongst African Americans hit a record low. On Friday, the Bureau of Labor and Statistics released its August report, which showed that the economy gained 130,000 jobs last month. The report also revealed that black unemployment fell to 5.5%, which is the lowest rate recorded since the Labor Department…
High rents create a new class of hidden homeless in Los Angeles
Kevin Recinos works full-time helping the homeless in Los Angeles as a Life Skills Coordinator, but when his rent increased by $200 per month, he himself became homeless. Now, he’s one of the estimated 9,000 newly homeless in Los Angeles living out of their car. As he demonstrated how he gets his car ready…
Minimum wage would be $33 today if it grew like Wall Street bonuses have
Wall Street employees saw their typical annual bonus slip by 17 percent last year to $153,700, according to new data from the New York State Comptroller. But don’t feel sorry for the banking set just yet — even including down years like 2018, bankers’ bonuses have jumped by 1,000 percent since 1985. Wall Street bonuses fell…
Almost half of US families can’t afford basics like rent and food
Unemployment dips to lowest rate since 2000 The economy may be chugging along, but many Americans are still struggling to afford a basic middle class life. Nearly 51 million households don’t earn enough to afford a monthly budget that includes housing, food, child care, health care, transportation and a cell phone, according to a study…
Why America Can’t Solve Homelessness
SALT LAKE CITY, Utah — The lunch rush at St. Vincent de Paul Dining Hall is a snapshot of the changing character of American homelessness. The first thing that strikes you is the sheer number of people the soup kitchen serves. The line outside starts forming two hours before the food is ready. Diners file…
