This Week in ESG and Impact Investing

The Bureau of Labor Statistic (BLS) “Employment Situation” report found that the overall U.S. unemployment rate held at  4.4 % in September, 2025 , with about 7.6 million people unemployed. ( Bureau of Labor Statistics ) Disaggregated by race, the report shows: Black workers: 7.5 % unemployment, with the rate for Black women growing from 6.7% in August to 7.5% in September. Hispanic workers: 5.5 % unemployment. White workers: 3.8 % unemployment. These gaps matter for minority business enterprises (MBEs), because labor market conditions for minority workers affect both the supply side (availability of talent, wage pressures) and demand side (consumer spending power, business formation). What this means for Black & minority‐owned firms A 7.5 % unemployment rate for Black workers implies that a larger share of the workforce faces unemployment, which may constrain firms in sourcing qualified staff, or create labor cost pressures if fewer skilled candidates are avai...

On the Black Economics podcast we explore the extended 2025 U.S. federal government shutdown (which began October 1) ( Wikipedia ) and its reverberations across our economy. For readers of ImpactInvesting.Online, the questions we must ask go beyond the headline fiscal impasse: What are the implications for underserved communities, minority‐owned enterprises, and the broader ambition of channeling capital toward impact? In the podcast and in this article, we surface three key takeaways — and propose how impact investors, policymakers and practitioners can respond. 1. The macro disruptor: economic data, market confidence & policy risk The shutdown interrupted delivery of federal economic data, weakened consumer sentiment and rattled markets. One recap notes: “the federal government shutdown worries were cited as a primary reason for the decline” in the University of Michigan’s consumer sentiment index. ( T. Rowe Price ) For impact investors, this matters because: Less transp...

There are many data collection crises that we, as workers and consumers, should be tuned into amid this era of instability. At a recent event hosted by the Center for Strategic and International Studies (CSIS) titled “Federal Statistics for Economic Security,” leading economists identified quite a few. “We have to imagine a world where technology will outdo the best economists,” said Oliver Wise, executive director of Bloomberg Center for Governance and Excellence, to a room full of economists. As geopolitical tensions rise, there is a demand for constant innovation. After all, policymakers and economists alike are operating under the belief that the country with faster technological advancement will dominate global ideology. Their strategy: integrating artificial intelligence in governance and federal data collection systems. A wide-scale modernization effort. But what will inch us toward the modernization we think we require? Acting directors at the nation’s highest statistical burea...

At SEMAFOR’s “Navigating Regulatory Waves: Pathways Toward Policy Innovation” event on October 28, policymakers and industry leaders spoke on how the U.S. can adapt to new economic and technological obstacles in an era of renewed geopolitical rivalry. The common question they answered was How can the U.S. stay innovative and competitive in this fast-changing world? Out of all the conversations that day, the one with Rep. Deborah Ross (D-NC) stood out to me—she spoke with conviction, humor, and a sense of urgency that cut through the usual talking points. Her first message: innovation shouldn’t come with a price tag. Rep. Ross didn’t mince words about President Donald Trump’s idea to impose new fees on patents. She called it a threat to first-time inventors and minority business enterprises (MBEs)—the people who most need access, not more disadvantages. “We need to support first-time patent holders to uphold the values this country was founded on,” she said. She emphasized that we need ...

North America’s triad has always relied on each other for shared prosperity. The US-Mexico-Canada Agreement (USMCA), inaugurated in 2020, was built for mutual growth and stability. But now, President Donald Trump’s tariff approach on goods from nations neighboring the US has inflicted damage on Canada and Mexico. By the same coin, it has opened the door for China to become a dominant trade partner—especially with Mexico.  The upcoming 2026 review is no routine check-up. It’s shaping into a renegotiation that will determine the future of North American cooperation.  The U.S.’ greatest strength has always been its alliances,” said Jean Charest, former premier of Quebec.  Three experts, one from each member country, met at the Brookings Institution to discuss the high stakes of the formal review, scheduled for June or July 2026. This economic partnership underpins one-third of global GDP and supports around 17 million jobs. The implications of the renegotiation reach far pas...

The Federal Reserve cut interest rates for the second consecutive time on Wednesday, lowering the benchmark federal funds rate by 25 basis points to a range of 3.75 %–4.00 % . This move follows September’s initial rate reduction to 4.00 %–4.25 %. Together, the cuts signal growing concern about slowing job growth, weakening consumer confidence, and a still-uneven recovery that has left many Black and minority businesses struggling to access affordable credit. A Softer Economy, Not Yet an Easier One The Fed’s policy statement underscored “elevated uncertainty about the economic outlook.” With unemployment edging higher and inflation “still running hot” ( see our analysis ), policymakers are threading a fine line between supporting growth and maintaining credibility on prices. For Black- and minority-owned firms, this caution matters: many operate in sectors tied closely to consumer spending or local service demand. Our September 2025 Unemployment Forecast already showed that job loss...