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Tag Archives: underemployment

Racial Wealth and Education

Valerie Thomas: Physicist, NASA Scientist and inventor of the Illusion Transmitter Inventing anything is a feat of engineering—especially when it involves brand new technology! Valerie Thomas attended Morgan State University where she was one of just two women majoring in physics. Thomas then went on to work as a data scientist at NASA, where she gained the skills and experience to develop the Illusion Transmitter. The Illusion Transmitter is a “device for displaying the three-dimensional illusion of an object—without using a laser.” Her invention is still used in NASA labs today!

The issues facing our “Post Racial” society are a lot more complex than just black communities relationship with Police and the corrupt Judicial System. The New Jim Crow is a pervasive system of inequities which operate almost on every level of American society, constitute a “Black Tax” almost at every economic and educational level stage. Whether making it more difficult for young black people to rise out of poverty, to access to hi-level jobs for the educated and experienced, that “Tax” is interwoven into the basic structure and society of America.

A while back I discussed the fact that Hi-Tech Firms claimed a qualified Engineering shortage in America as the basis for more H1B VIsas to bring folks in from overseas to take American jobs…While black Graduate students and advanced degree holders languished without jobs.

On average, just 2% of technology workers at seven Silicon Valley companies that have released staffing numbers are black; 3% are Hispanic.

But last year, 4.5% of all new recipients of bachelor’s degrees in computer science or computer engineering from prestigious research universities were African American, and 6.5% were Hispanic, according to data from the Computing Research Association.

The USA TODAY analysis was based on the association’s annual Taulbee Survey, which includes 179 U.S. and Canadian universities that offer doctorates in computer science and computer engineering.

“They’re reporting 2% and 3%, and we’re looking at graduation numbers (for African Americans and Hispanics) that are maybe twice that,” said Stuart Zweben, professor of computer science and engineering at The Ohio State University in Columbus.

Nothing breeds success like success. Go to any playground in America, and you will see kids trying to be just like “Mike” or Lebron. Go to any Library…And you will see increasing numbers of minority kids trying to be like those who have succeeded in the technology fields.

Not helping those kids motivation to succeed is this…

Racial Wealth Gap Persists Despite Degree, Study Says

Even with tuition shooting up, the payoff from a college degree remains strong, lifting lifelong earnings and protecting many graduates like a Teflon coating against the worst effects of economic downturns.

But a new study has found that for black and Hispanic college graduates, that shield is severely cracked, failing to protect them from both short-term crises and longstanding challenges.

“The long-term trend is shockingly clear,” said William R. Emmons, an economist at the Federal Reserve Bank of St. Louis and one of the authors of the report. “White and Asian college grads do much better than their counterparts without college, while college-grad Hispanics and blacks do much worse proportionately.”

A college degree has long been recognized as a great equalizer, a path for minorities to help bridge the economic chasm that separates them from whites. But the report, scheduled to be released on Monday, raises troubling questions about the ability of a college education to narrow the racial and ethnic wealth gap.

“Higher education alone cannot level the playing field,” the report concludes.

Economists emphasize that college-educated blacks and Hispanics over all earn significantly more and are in a better position to accumulate wealth than blacks and Hispanics who do not get degrees. Graduates’ median family income in 2013 was at least twice as high, and their median family wealth (which includes resources like a home, car and retirement account) was 3.5 to 4 times greater than that of non-graduates.

But while these college grads had more assets, they suffered disproportionately during periods of financial trouble.

From 1992 to 2013, the median net worth of blacks who finished college dropped nearly 56 percent (adjusted for inflation). By comparison, the median net worth of whites with college degrees rose about 86 percent over the same period, which included three recessions — including the severe downturn of 2007 through 2009, with its devastating effect on home prices in many parts of the country. Asian graduates did even better, gaining nearly 90 percent.

College Doesn’t Guarantee Security for Minorities Among minorities, a college education has not been a guarantee of financial security in recent decades. In contrast to white and Asian households, the net worth of college-educated black and Hispanic families fell significantly between 1992 and 2013, while their debt hit high levels even before the financial crisis.

To understand just how disappointing these results are, look at the impact during this period on comparable groups without college degrees. Blacks without degrees, in large part because they had much less to lose, experienced a 3.8 percent drop in wealth. Whites who didn’t graduate from college lost nearly 11 percent. The wealth of Asian nongrads fell more than 44 percent.

There is not a simple answer to explain why a college degree has failed to help safeguard the assets of many minority families. Persistent discrimination and the types of training and jobs minorities get have played a role. Another central factor is the heavy debt many blacks and Hispanics accumulate to achieve middle-class status….More

The Employment and hiring disparity has many causes – but report after report supports its existence.

Including Name Discrimination

Looking at Unemployment and Underemployment

 
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Posted by on August 18, 2015 in The New Jim Crow

 

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No Longer Just Jose on the Corner Anymore…

Competition at the curbside…

Pinched Workers Seek Out Day Labor

High Joblessness Forces More People From Desk Jobs to Curb-Side Hiring Sites; a Bank Teller Takes Up Housecleaning

The face of day labor appears to be changing, with more women, non-Latinos and former white-collar workers taking up manual labor.

Amid continued high joblessness, employers say they are seeing more workers at curbside hiring sites, or seeking work through less traditional routes such as Craigslist, who before the downturn might have had full-time jobs.

Many lost desk jobs in the hard-hit auto, construction and financial industries. Some see manual labor such as housecleaning or hauling debris, where people are hired and paid per diem, as the only way to survive when jobs in their prior fields have become scarce.

 
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Posted by on September 7, 2010 in The Post-Racial Life

 

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Starting Fresh – When the HR Rep Doesn’t Call

One of things you never will hear crossing a politicians lips when talking about unemployment – is the fact that the 10% unemployment numbers include 5 – 7  million of the unemployed are folks who have college degrees, and would be classified as white collar workers. This situation started shortly after the Dot Com bust, where previously highly paid professional people with significant skill sets were thrown out of work, or forced into underemployment by cascading companies.

During the Bushit Administration, these jobs were heavily “outsourced” to China and India. Another “brilliant” idea when you consider those 160,000 programmers in China attempting to Hack into Google, our military systems, and cripple our grids conducting 3 – 5 million attacks a day…

Were trained largely on corporate America’s dime.

Finding a Job by Starting a Business

Last year, more laid-off managers and executives grew tired of waiting for human resources departments to call them back. They took matters into their own hands by starting companies.

Challenger, Gray & Christmas, the outplacement firm, regularly keeps track of 3,000 high-level job seekers in a range of industries. Last year, 8.6 percent of these decided to take the start-up route, compared with 5.1 percent in 2008.

The biggest surge was in the third quarter. The hope is that this momentum “will carry into 2010, since new business development is considered critical to a sustainable recovery,” Challenger stated.

After seven years, only about a third of start-ups are still in business, according to a study in the Monthly Labor Review. Most of these companies fail within in the first few years. So in four years or so, it would be interesting to see how many of these entrepreneurs wish they had waited for that H.R. person to call back.

 
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Posted by on January 31, 2010 in Stupid Republican Tricks

 

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