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Tyler Perry

Russell Simmons

Dr. Ben Chavis
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Business World Index
---U.S. Secretary of Labor Hilda L. Solis on August employment numbers ---
Here is an excerpt from the remarks of Secretary of Labor Hilda L. Solis on the August 2009 Employment numbers: "This past August, the economy lost 216,000 jobs — fewer than what most experts expected. The overall unemployment rate is now 9.7 percent. Last month's jobs loss is an improvement from the average 700,000 jobs our economy was losing every month when this administration took office, but is still by no means acceptable. These numbers are a sobering reminder that our economic conditions continue to cause pain for many Americans and that families are having a difficult time simply covering their daily necessities, much less planning for the future.”
---Go to UnityFirst.com for the following stories---
--- Tyler Perry and Lionsgate team up for the big screen version of the play--- FOR COLORED GIRLS who have considered suicide when the rainbow is enuf. Click here….
--- Russell Simmons, Dr. Benjamin Chavis, Valeisha Butterfield, the Hip-Hop Summit Action Network (HSAN) and Walmart announced the convening of a national Hip-Hop Summit on Financial Empowerment entitled "Get Your Money Right." Click here….
---Congressional Black Caucus Foundation announces the 5th Anniversary of the Emerging Leaders Series. Click here….
---Unemployed workers are still not finding jobs---
The Economic Policy Institute recently issued a report noting that job loss has slowed, but the unemployed are not finding work. According to the EPI: “Unemployment has more than doubled since its pre-recession low of 4.4% in March 2007, and has nearly doubled from 4.9% at the start of the recession in December 2007. Furthermore, this recession continues to shatter all records related to length of unemployment spells. Currently, 5 million workers have been jobless for over six months. The figure below shows the share of the labor force that has been unemployed for over half a year. Currently, 3.2% of the labor force has been unemployed for over six months — far surpassing the previous peak of 2.6% set in June of 1983. Currently one-third of this country’s 14.9 million unemployed workers have been unable to find work for over half a year. Although the employment data released today clearly show that the pace of layoffs is slowing, these unemployment data also show equally clearly that unemployed workers are still not finding jobs. Also worth noting is that the official unemployment count understates the slack in the labor market by counting neither those who want a job but have given up looking for work (“marginally attached”), nor workers who are working but can’t get the full-time hours they want (“involuntary part-time workers”). There are currently 14.9 million unemployed workers in the United States, but if the marginally attached and involuntary part-time workers are included, the number swells to 26.4 million. Currently one in six U.S. workers (16.8%) is either un- or underemployed.”
---Demographic shifts in unemployment---
The Economic Policy Institute also noted that: “While all major demographic groups have experienced large increases over the course of the recession, some groups are harder hit by unemployment, namely racial and ethnic minorities, men, workers with lower levels of schooling, and younger workers.
• In August, unemployment was 15.1% among black workers, 13.0% among Hispanic workers, and 8.9% among white workers (increases of 6.2, 6.8, and 4.5 percentage points, respectively, since the start of the recession).
• Unemployment was 10.9% for men, compared to 8.2% for women (increases of 5.9 and 3.4 percentage points since the start of the recession).
• Unemployment reached 9.7% for high school educated workers, and 4.7% for those with a college degree (increases of 5.1 and 2.6 percentage points, respectively, since the start of the recession).
• Unemployment is 18.2% among workers age 16-24, 8.7% for 25-54 year olds, and 6.8% for those 55 and over (up 6.6, 4.7, and 3.7 percentage points, respectively, since the start of the recession).” |