Seven Devastating Economic Facts Affecting Black Americans
The Obama economy has been brutal on all Americans, but especially so on black Americans.
Consider the following seven economic facts:
1.27 percent of black Americans now live in poverty, a two percent increase since 2009.
2.According to last month’s Bureau of Labor Statistics report, the unemployment rate for black Americans now stands at a staggering 14.1 percent, a figure well above the already high national unemployment rate of 8.3 percent.
3.White Americans now have 22 times more wealth than black Americans, a figure that has nearly doubled during the recession. According to the Census, in 2010, media household net worth for whites totaled $110,729. For blacks, the figure was $4,995.
4.From June 2009 to June 2012, real median annual household income for blacks fell 11.1 percent from $36,567 down to $32,498. The drop for whites was 5.2 percent and 4.1 percent for Hispanics.