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Obama’s Economy Leaves Black Americans Behind

- August 1, 2014

The New Republic: “There Is No Way Around It: Creating A More Equitable Future Is Going To Require Building The Median Assets Of Black American Families.” (Dean Starkman, “The $236,500 Hole In The American Dream,” The New Republic, 6/30/14)


The Majority Of Wealth Gap Between Black And White Americans Is Due To “Current Policies And Structures” That Have Accelerate Disparity. “Notwithstanding its undeniable historical roots, the bulk of the black-white wealth gap can be traced to current policies and structures that have made the wealth divide grow at an accelerating pace over the past 25 years.” (Dean Starkman, “The $236,500 Hole In The American Dream,” The New Republic, 6/30/14)


BLACK AMERICANS HAVE LOST GROUND IN THE OBAMA ECONOMY

Instead Of Solving The Problem, The Income Gap Among Black And White Americans Has Widened Under Obama

As Of 2012, Black Americans Have The Lowest Median Income Of Any Demographic.“No racial or ethnic group experienced significant changes in income, but that left the gap between Asians, at the top, and blacks, at the bottom, as wide as before. The median income for Asian households was $68,600. For non-Hispanic whites, it was about $57,000, while the typical Hispanic household had an income of $39,000, and blacks were at $33,300.” (Annie Lowrey, “Household Incomes Remain Flat Despite Improving Economy,” The New York Times, 9/17/13)

As Of 2012, Black American Per Capita Income Has Fallen By 2% During Obama’s Presidency, While White Per Capita Income Increased. (Current Population Survey, Annual Social And Economic Supplement, U.S. Census Bureau, Accessed 7/31/14)

  • White Per Capita Income Increased From $33,393 In 2008 To $33,434 In 2012, A $41 Increase. (Current Population Survey, Annual Social And Economic Supplement,U.S. Census Bureau, Accessed 7/31/14)
  • Black American Per Capita Income Fell From $19,628 In 2008 To $19,267 in 2012, A $361 Decline. (Current Population Survey, Annual Social And Economic Supplement, U.S. Census Bureau, Accessed 7/31/14)

As Of 2012, Black American Median Household Income Has Declined By 9% Since Obama Became President, While White Median Household Income Has Declined By 4%. (Current Population Survey, Annual Social And Economic Supplement, U.S. Census Bureau, Accessed 7/31/14)

  • White Median Household Income Decreased From $55,786 In 2008 To $53,706 In 2012, A $2,080 Decline. (Current Population Survey, Annual Social And Economic Supplement, U.S. Census Bureau, Accessed 7/31/14)
  • Black American Median Household Income Decreased From $36,491 In 2008 To $33,321 In 2012, A $3,170 Decline. (Current Population Survey, Annual Social And Economic Supplement, U.S. Census Bureau, Accessed 7/31/14)

Chronic, Long-Term Unemployment Is Disproportionately Hitting Black Americans

While Black Americans Are Only 10 Percent Of The Employed Population, They Are 22 Percent Of The Long-Term Unemployed. “In addition, African Americans comprise 22 percent of the long-term unemployed, compared with just 10 percent of the employed population.” (Alan B. Krueger, Judd Cramer, David Cho, “Are The Long-Term Unemployed On The margins Of The Labor Market?,” Brookings Institute, 3/20-21/14)

The Average Duration Of Unemployment For Black Americans Was 33.2 Weeks In July, Well Above The 29.8 Weeks For White Americans And The 27 Weeks Used To Define Long-Term Unemployment. (Current Population Survey, Bureau Of Labor Statistics, Accessed 7/31/14)

35 Percent Of Unemployed Black Americans Were Unemployed For 27 Weeks And Over In July 2014. (Current Population Survey, Bureau Of Labor Statistics, Accessed 7/1/14)

Black American Labor Force Participation Has Fallen From 63.2 Percent When Obama Became President To 61.7 Percent In July 2014. (Current Population Survey,Bureau Of Labor Statistics, Accessed 7/1/14)

Under Obama, Black Americans Have Seen Their Poverty Rates Increase

In 2012, 37.9 Percent Of Black Children Lived In Poverty, The “Hardest Hit” Of Any Demographic. “The new data also show that 13.7 percent of Americans who live in poverty are from 18 to 64 years old, and 9.1 percent are those aged 65 and older. Those hardest hit are children of color: 37.9 percent of black children lived in poverty in 2012, and 33.8 percent of Hispanics did as well. Compare that to 12.3 percent for white, non-Hispanic children.” (Valerie Strauss, “New Census Data: Children Remain America’s Poorest Citizens,” The Washington Post’s The Answer Sheet, 9/17/13)

In 2012, 27.2 Percent – 10.91 Million – Of Black Americans Were Below The Poverty Line. (Current Population Survey, Annual Social And Economic Supplement, U.S. Census Bureau, Accessed 3/13/14)

  • In 2008, 24.7 Percent – 9.38 Million – Of Black Americans Were Below The Poverty Level. (Current Population Survey, Annual Social And Economic Supplement, U.S. Census Bureau, Accessed 3/13/14)

In 2012, 37.9 Percent Of Black Americans Under 18-Years-Old Were In Poverty, An Increase From The 34.7 Percent In 2008. (Current Population Survey, Annual Social And Economic Supplement, U.S. Census Bureau, Accessed 3/13/14)


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