Posted on 03/31/2022 6:11:11 AM PDT by Oldeconomybuyer
WASHINGTON (AP) — America’s hiring boom of the past year has narrowed racial disparities in unemployment. Yet the Federal Reserve’s ongoing interest rate hikes — shaping up to be the steepest in 15 years — threaten to reverse that progress.
Such rapid hikes typically slow borrowing and spending and can raise unemployment and even cause a recession. During such downturns, Black and Hispanic Americans commonly suffer higher jobless rates.
“The reason why this matters in the Black community is because we are literally the last hired, and it’s only when you get to this point in a recovery where black workers really see their gains,” said William Spriggs, chief economist at the AFL-CIO. “When you slow the pace of hiring, then you cut off that path.”
(Excerpt) Read more at apnews.com ...
“During such downturns, Black and Hispanic Americans commonly suffer higher jobless rates.”
Half true; blacks should be up in arms about the mass trafficking designed to replace them - especially with Hispanics.
We tried to warn them!! Who did they think the Hispanics were going to displace??
“The reason why this matters in the Black community is because we are literally the last hired, and it’s only when you get to this point in a recovery where black workers really see their gains,” said William Spriggs, chief economist at the AFL-CIO. “When you slow the pace of hiring, then you cut off that path.”
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What planet does he live on? Nowadays, an army of leftist corporate diversity officers makes sure that WHITES are the last hired, with occasional exceptions for white homosexuals and young, leftist, college educated women.
The assumption here is that private enterprise is the driving economic engine. True in the past, but long gone.
The govt is the economic engine. I don’t see a lot of “racism” except in govt.
It's not the Fed's business to try to make it so single black 19-year-old moms make as much income as white families with two parents in their 40's.
This is a flat out lie. Has the author of this screed noticed hiring in news, entertainment, sports, politics, major corporations, academia, law, and many other examples?
So how many unskilled illegal immigrants will Team Biden accept this year to box lower-skilled workers out of jobs and undercut wages at the low end of the ladder? Last year, two million. This year, five million? Ten million? Why not?
No. In reality, they saw tremendous gains under Trump’s policies.
Blatantly, patently false. I have two children newly minted from college in different areas. Both report blacks get ALL of the job offers first.
Large corporations come in specifically to hire black graduates. Whites need not apply.
They replaced a lot of unskilled and low-skilled whites as well, and are moving further up in the trades quickly; they are also replacing white men in many gubmint jobs where race is the primary determinant (cops, firemen). The problem for blacks is that they often lose out to Hispanics (and white women) where race/gender quotas are in place; now many of those programs are re-examining ways to keep blacks in the running. It is just about equal economic outcomes at this point; merit or actual contributions mean nothing. A friend in law enforcement described how Hispanic males were quietly being dropped from the “preferred” list; they would take all of the slots on merit (as they are basically equal to “white” male peers).
It was white salesmen and supervisors with crews of Hondurans who were extremely hard working.
I find it difficult to find fault with anyone willing to work hard.
“The reason why this matters in the Black community is because we are literally the last hired, and it’s only when you get to this point in a recovery where black workers really see their gains,”
Oh please! Try firing a black for the same reasons you’d fire any white. There are reasons businesses are often reluctant to hire blacks, and it isn’t because of their dark skin, as some of these pearl clutching articles would have you believe.
Meteor to Destroy Earth. Minorities, women and transexuals hit hardest.
So lower rates for darker skin?
The obvious question how runaway inflation is affecting those same Black and Hispanic Americans he’s talking about.
The point of this article is to build a narrative to keep interest rates artificially low which only make the problems of the Black and Hispanic communities even worse, along with all Americans.
The obvious question how runaway inflation is affecting those same Black and Hispanic Americans he’s talking about.
The point of this article is to build a narrative to keep interest rates artificially low which only make the problems of the Black and Hispanic communities even worse, along with all Americans.
The clutching of pearls continues...
The low rates are probably making the problems of those communities more bearable (at least on the surface, and in the short-term) by letting them, like all Americans, avoid the very real declines in our standards of living with cheap borrowing (along the lines of “You’ll own nothing and be happy”). Current populations will live a relatively comfortable life in terms of material things, but leave nothing to heirs - and this is acceptable to an increasing number of people because they have no heirs.
Free money or be raciss
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