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BLACKPRESSUSA.COM
Marc Morial
WASHINGTON (NNPA) - As the Black unemployment rate leaped another eight percentage points last month – from 10.6 percent to 11.4 percent, the White unemployment rate actually remained the same – at 5.4 percent, less than half the rate for Blacks. In addition to that in every economic category, from the poverty rate to housing loss African-Americans remain historically and consistently at rock bottom – a condition exacerbated by the national housing and Wall Street financial crisis that forced Congress to reluctantly pass a $700 billion bailout last week.
''We're in a weaker financial position related to the mainstream in the first place,'' said Alfred A. Edmond, Jr., editor-in-chief of BlackEnterprise.com, in an interview with the NNPA News Service. “The saying goes, 'when the rest of America gets a cold, Black America gets pneumonia.''
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