unemployment

The Economic Forecast After the Coronavirus Pandemic

Richard Smith

Even with widespread testing, until a vaccine is available, there are entire industries that will have less than half the pre-virus business: airlines, hotels, cruise ships, theme parks, and sports, to name a few, as well as myriad other businesses supporting or related to these industries. In addition, more than a few large retail department and specialty store chains will probably not make it. No need to list names, but they are the obvious weak ones prior to COVID-19.

Why Does the Temp Industry Shut Out Black Workers?

Will Evans

Ceja had stumbled into the noxious muck of systemic discrimination in the rapidly growing temp industry. Around the country, temp agencies have used code words, symbols and gestures to illegally hire workers by sex, race and age. Whether filling orders for only white workers or only Latino ones, the tactics often hit black workers the hardest. As Ceja underwent a crash course in this hidden system, an advocacy group called the Chicago Workers’ Collaborative was devising a counteroffensive.

On Chicago’s West Side, No Rebound From the Recession

La Risa Lynch

While the overall unemployment rate in Chicago has declined since the recession ended, the rate in African-American communities has remained high. The citywide unemployment rate was 8.4 percent in 2014, but it has been well into the double digits in neighborhoods like Austin, North Lawndale, Englewood and Garfield Park, according to a Reporter analysis. The interconnection between unemployment and incarceration has made these communities least likely to share in the economic recovery.

Humans Will Lose 5 Million Jobs to Robots By 2020

Agnes Constante

By the year 2020, humans are expected to lose a net of 5.1 millions of jobs to robots and artificial intelligence, according to a report from the World Economic Forum (WEF). In the report, 15 economies that make up 65 percent – about 1.9 billion workers – of the total global workforce were surveyed. About 7 million jobs will be lost while 2 million will be gained due to technological change in these developed and emerging nations.

White House: U.S. Economy Is on the Rise

Agnes Constante

The most recent version of the report, released Monday, Feb. 22, by the Council of Economic Advisers, also noted the nation’s economy also extended the longest streak of job growth on record, and that wage growth in the last 12 months was the strongest it has been since the Great Recession. The combination of increased jobs and wages helped boost consumer confidence about the economy to its highest level since 2004, according to the report.

America’s Middle Class Struggles to Preserve Retirement Security

Pamela Yip

“Half of today’s working-age households are unlikely to have enough resources to maintain their standard of living once they retire,” according to the National Retirement Risk Index, compiled by Boston College’s Center for Retirement Research. That conclusion is based on very conservative assumptions, according to the index, which measures the share of working-age American households at risk of being unable to maintain their pre-retirement standard of living in retirement.

40 Years Later: African-American Men Still Face Mass Incarceration, Job Losses

Freddie Allen

Black men are no better off than they were more than 40 years ago, due to mass incarceration and job losses suffered during the Great Recession, according to a new report by researchers at the University of Chicago. Derek Neal and Armin Rick, the co-authors of the study, found that reforms in the criminal justice system at the state-level largely contributed to disparities in arrests and incarceration rates that ultimately stifled educational and economic progress for Black men.

Congress Stands By as Number of Jobless Americans Grows

Charles D. Ellison

More than 2.2 million Americans are barely getting by after most of their extended unemployment benefits were abruptly cut over the Christmas break. In fact, Congress and the president skipped town for restful, holiday vacations soon after. Hopes of a post-New Year’s Day resolution were dashed by stalls and foot-dragging in the Senate, which is finally taking a vote this week. But, a nastier, unsympathetic House Speaker John Boehner (R-Ohio) is signaling that he’s not interested in bringing it to the floor for a vote. 

The Illegal Background Check Boom

Kai Wright

Rivera is part of an uncounted population of formerly convicted or incarcerated people trying to find work in a hostile economy. They are failing, by and large, thanks to the illegal but still widespread practice of employers rejecting applicants or firing workers solely because they have criminal records. A growing movement is pushing states to “ban the box,” or more closely regulate when and how employers can ask about criminal records on job applications. 

The Current Unemployment Crisis Facing Minority Youths

Imara Jones

As the White House prepares to launch a major economic opportunity effort, record high unemployment among black and Latino youth underscores how essential it is to create job opportunities for young people of color. The critical issue here is that the ages of 16 to 24 are make or break years for lifelong earning potential. With one out four blacks and one out of six Latinos under the age of 25 without work, a generation of youth of color risks falling behind.

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