Unemployment by Race, Ethnicity. January, 2024

Unemployment by Race - Year-over-Year Analysis:

- White: The rate increased slightly over a year from 3.0% to 3.4%, indicating a slight uptick in unemployment but relatively stable conditions.

- Black or African American: Despite the decrease at the end of 2023, the rate is lower in January 2024 (5.3%) compared to December 2022 (5.7%), suggesting positive long-term improvement.

- Asian: With a decrease from 2.4% in December 2022 to 2.9% in January 2024, this group has seen an overall increase in unemployment rate but remains the group with the lowest rate.

- Hispanic: There has been an increase in the unemployment rate from December 2022 (4.1%) to January 2024 (5.0%). This represents a nearly full percentage point increase over the year, which could suggest worsening employment conditions for this demographic or could be influenced by broader economic trends.

Overall Context:

- Racial disparities in unemployment rates are evident, with Black or African American individuals experiencing the highest rates both in the short and long term.

- The increase in unemployment for Hispanic or Latino individuals over the year is concerning, especially if it signals a trend that could continue beyond January 2024.

- Asian individuals, while experiencing a slight year-over-year increase, seem to be faring relatively well in the job market compared to other groups.

Economic Implications:

- These trends reflect broader economic issues such as the impact of automation, global trade shifts, or changes in the demand for different types of labor.

- There may be a need for targeted economic policies to address the specific challenges faced by different racial and ethnic groups in the labor market.

Policy Recommendations:

- We suggest policymakers consider targeted investments in minority businesses, job training and education programs, anti-discrimination measures in hiring, and economic development in areas with high unemployment rates among minority groups.

- Ongoing monitoring of these trends is crucial to understanding the long-term impacts and effectiveness of policies aimed at reducing unemployment disparities by race.

The situation warrants a closer examination of the underlying causes and potential policy interventions to ensure equitable employment opportunities for all racial and ethnic groups.

Kamalanomics: Home and Health

Vice President Kamala Harris recently unveiled her economic plan, which builds upon and expands several initiatives from the Biden administration while adding new elements aimed at addressing economic challenges faced by American families. Her plan, dubbed the "Opportunity Economy" agenda, focuses on lowering costs for essential goods and services, particularly targeting housing, healthcare, and groceries. Key Components: 1. Housing: Harris proposes constructing three million new homes to address the housing supply crunch, which is more ambitious than Biden's two-million-home plan. She also advocates for a $40 billion "innovation fund" to encourage local governments to find solutions to housing shortages and make it harder for investment companies to buy up large numbers of rental properties, which has driven up rent prices. (See: Comments to the CalPERS Board of Administration, July 15, 2024 on Housing and Environmental Investing.) 2. Healthcare: Expanding on B

Maternal Health Financing Facility for Black Women: A Solution to an Urgent Problem

Maternal mortality is a significant issue in the United States, with Black women disproportionately affected. Research conducted by the Centers for Disease Control and Prevention (CDC) has shown that Black women are more likely to die from pregnancy-related causes than their white counterparts. However, the issue is not new, and despite the increasing amount of data available, the disparities have remained unaddressed for far too long. Creative Investment Research (CIR) is among the organizations that believe there is a solution to the problem. Through our proposed impact investing vehicle , the Maternal Health Financing Facility for Black Women (MHFFBW), we aim to tackle the mortality gap and support Black women during childbirth, which will, in turn, benefit their communities. The Facility, based on legally binding financing agreements containing terms and conditions that direct resources to individuals and institutions capable of addressing supply-side conditions at the heart of

BRICS Summit 2023: Navigating the Transformation of Global Finance

Recent developments in the global financial landscape have captured the attention of the finance world, promising a new era of integration, transformation, and collaboration. Amidst the excitement, however, it is essential to acknowledge the formidable obstacles that stand in the way of realizing these ambitions. The 2023 BRICS Summit , slated to convene amidst this shifting landscape, is poised to be a significant juncture that could have profound implications for the future of international finance. The resurgence of Bitcoin, marked by an impressive, if smaller, year-to-date price surge, has underscored its enduring relevance. Similar concerns surround the exploration of central bank digital currencies (CBDCs). The UK's digital pound initiative, while forward-looking, raises questions about stability, security, and privacy and potential economic power imbalances. The notion of a BRICS digital currency, potentially extended to include several countries, reflects a desire to chall

This Week in ESG and Impact Investing

Search This Blog