Economic Resurgence: Black Employment in Transition

Economic Resurgence: Black Employment in Transition

Taylor D. Robinson, Ph.D., John R. Lewis Social Justice Fellow

May 2024

Introduction

For decades, the Black community has faced enduring disparities in the job market, consistently experiencing unemployment double those of white individuals since as far back as 1972 (Ajilore, 2020). The 2023 job market, however, changed employment opportunities for Blacks, leading to an unprecedented low unemployment rate at 4.7 percent (Cambon & Guilford, 2023). There are concerns that this upward trend may change, with predictions that the national unemployment rate will increase by 0.5 percent in 2024 (Fabino, 2023). This policy brief delves into the economic trends affecting Black Americans, examining past and present factors such as the COVID-19 pandemic’s effects on employment, the rise of remote job opportunities, and the growth of self-employment. Further, it spotlights the impact of reintroducing the Jobs and Justice Act of 2020 alongside other pertinent legislation aimed at advancing Black economic success in 2024.

Black Unemployment History

The most defining feature of the U.S. labor market is the disparities that exist between Black and white workers. The Bureau of Labor Statistics has documented this disparity since 1954, when reports of unemployment rates by race began (white vs. non-white) and further disaggregated starting in 1972 (Wilson & Darity Jr., 2022). In 1983, Black workers saw the highest unemployment rate of 19.5 percent, while white workers’ unemployment was 8.4 percent. According to the disaggregated data, Black job seekers are half as likely to secure employment during a four-week search period compared to whites (Wilson & Darity Jr., 2022). In essence, a persistent 2-to-1 ratio exists between Black and white unemployed individuals. This pattern has remained consistent despite multiple periods of economic growth for Black communities (Wilson & Darity Jr., 2022). For example, job growth has increased, and unemployment rates have steadily decline within the past decade, with the Black unemployment rate falling to a historic low of 6.1 percent in 2019, yet this was still twice the rate of white unemployment at 3 percent (Wilson & Darity Jr., 2022).

There have been efforts to explain the unemployment gap, such as differences in education and skills, which have been widely cited as the primary reason for the disparity. Data shows that across age groups, higher levels of education and substantial work experience led to people having lower rates of unemployment compared to those with lower levels of education and limited work experience (Wilson & Darity Jr., 2022).

However, racial differences in educational attainment do not solely account for the 2-to-1 disparity between Blacks and whites (Wilson & Darity Jr., 2022). For instance, over the past 50 years, Black Americans have made significant strides in education surpassing high school and achieving college completion at rates that have both absolute and relative increases compared to whites. Despite these educational advancements, employment outcomes for Black Americans have remained largely unaffected, highlighting a persistent gap between educational attainment and employment opportunities (Wilson & Darity Jr., 2022).

• In 1972: 36 percent of Black Americans adults, 25 and older, had a high school diploma. By 2022, this percentage had grown to 88 percent (Wilson & Darity Jr., 2022). The increased rate in high school completion by Blacks narrowed the racial differences in school completion.

• Blacks trailed whites by 24 percentage points in 1972, yet most recently, the data shows the difference is 6.7 percentage points related to high school completion in 2019 (Wilson & Darity Jr., 2022).

• College graduation increased among Blacks with 5.1 percent of Blacks holding a fouryear degree in 1972 with 26.1 percent in 2019 (fivefold increase; Wilson & Darity Jr., 2022). Over this same period, college completion for whites increased from 12.6 percent to 40.1 percent (threefold increase; Wilson & Darity Jr., 2022).

Currently, most Black high school graduates move on to post-secondary education with 58% of Black Americans aged 25 or older having some college education (Moslimani et al., 2024). Black students are more likely to want to seek higher levels of education due to fewer opportunities for advancement, such as social networks and family relationships (Mangino, 2012). Although having higher education may improve employment prospects for Black college graduates, it does not result in the same outcomes as similarly educated whites. The closest Black workers have come to achieving parity with their white counterparts is when they have advanced degrees. Remarkably, even at this level of educational attainment, Black workers face a striking reality; not only are they twice as likely to be unemployed as similarly educated white workers, but they also encounter higher unemployment rates compared to less educated whites (Wilson & Darity Jr., 2022).

Policies and Pay Disparity

Changes in the racial wage gap are closely aligned with policy changes. For example, in the late 1960s through 1970s, the racial wage gap narrowed, possibly due to the passage of civil rights legislation (Bound & Freeman, 1989; Donohue & Heckman, 1991), in combination with the 1960s economic boom, anti-discrimination and affirmative action policies (Betsey, 1994), and a smaller educational gap between Blacks and whites (Carlson & Swartz, 1988). Conversely, the 1980s, witnessed a widening of the gap, attributable to cutbacks in anti-discrimination policy, wage inequality, and a decline in union representation (Blau & Beller, 1992; Wilson & Rodgers, 2016). The 1990s was a period of low unemployment and strong wage growth with a notable surge in wages for Black college graduates compared to similarly situated whites within the labor market (Wilson, 2015).

Since 2000, the wage gap between Black and white workers has continued to increase (Gould, 2020). A trend seen post-2000 is that the gap has grown significantly among workers with college degrees, and differences are also trending higher for more educated workers (Wilson & Rodgers, 2016). The wage gap fell from 2015 to 2019 corresponding to the recovery from the Great Recession; however, wages for white college graduates increased during this period (Gould & Wilson, 2019).

COVID-19 Pandemic and Black Employment

During the beginning waves of the COVID-19 pandemic, limits on physical contact in efforts to mitigate the spread of the virus led to a halt and altering of the U.S. economy (Galea & Abdalla, 2020). An underfunded healthcare system and poor national health among U.S. citizens made the U.S. vulnerable to COVID-19 related morbidity and mortality. Data show that risks of contracting COVID-19 increase for minorities and individuals of low socioeconomic status—these same groups are at risk of dying of the disease (Wadhera et al., 2023). Black Americans are two times more likely to be hospitalized or die because of COVID-19 (Brown, 2022).

The COVID-19 economy spawned three types of workers—unemployed, essential, and remote. Essential worker positions are often low-wage jobs with minimal healthcare coverage and insufficient sick leave options (Taylor, 2019; Yu et al., 2021). Black workers were disproportionately found to be essential workers who risked their health and their families’ health (Gould & Wilson, 2020). With the inability to properly social distance, increased risks of contracting, spreading the virus to family, or dying of the virus, and lack of adequate health coverage, many Black workers had to decide between continuing to be essential workers, find new work, or unemployment. In 2020, more than 40 million people filed for unemployment, numbers not seen since the Great Depression in the late 1920s and early 1930s (Galea & Abdalla, 2020).

In the first three months of the pandemic (February 2020-April 2020), the Black unemployment rate remained persistent in being significantly higher than whites, with the unemployment rate rising in March and surging in April. By April 2020, 40 percent of those who lost jobs (36 million) had an annual household income of less than $40,000, with unemployment estimates during this time estimated to be 14.2% for whites, 16.7% for Blacks, and 18.9% among Hispanics (Bureau of Labor Statistics, 2020; Spievack et al., 2020).

Mass Layoffs

The pandemic brought forth a surge in hiring, especially for technology companies who had to embrace the changes by making accommodations for increased use of remote working and e-commerce. Despite the surge in hiring, the pandemic also caused economic instability causing mass layoffs with more than 100,000 employees being laid off from technology companies since 2023 (Asare, 2023). During economic instability, racial minorities are the most vulnerable within the labor market. Additionally, diversity, equity, and inclusion (DEI) programs are usually the first to get defunded. For example, in 2022, human resources departments and DEI teams saw the highest job cuts (Asare, 2023). Placing pauses on hiring within these departments is not effective in the long-term as the focus on hiring and retention of employees from underrepresented racial groups is ignored, leading to the widening of racial gaps within specific industries, like technology. Before layoffs began, disparities in hiring were notable. For example, in 2021, 62% of tech jobs were held by white workers, while Asian Americans held 20%, Hispanic Americans 8%, and Black Americans only 7%—signaling the underrepresentation of Black Americans in this field (Asare, 2023).

The Rise of Small Businesses and Self-Employment

The pandemic created both positive and negative impacts on small businesses in the U.S. Many small businesses lost revenue, downsized, or closed because of the pandemic. Black business owners experienced disproportionate impacts on business earnings, 12 to 14 percent relative to white business owners (Fairlie, 2022). Lower levels of education and industry concentrations among Black owners contributed to disparities in earnings for 2020 (Fairlie, 2022). However, self-employment increased among women, especially women of color (Utz et al., 2022).

The rise in self-employment was among self-employed individuals with incorporated businesses with large increases among Black and Hispanic workers and older and more educated individuals (Utz et al., 2022). Many workers chose self-employment during the pandemic because of the childcare crisis, making it difficult to meet work/family responsibilities with a traditional job (Utz et al., 2022). Black small business owners were 28% higher in 2021 than before the pandemic began (Lurye, 2022). In early February 2022, over 1.2 million Black Americans were self-employed compared to under 1.1 million in February 2020 (Lurye, 2022). Black owners accounted for approximately 26% of all websites created for new businesses since the beginning of the pandemic (15%; Lurye, 2022). The growth in Black businesses can be attributed to the fact that Black business ownership was already increasing before the pandemic. Moreover, the pandemic served as a catalyst for many individuals to leave their jobs and venture into entrepreneurship, thereby becoming their own bosses (Lurye, 2022). Further, the widespread protests over the killing of George Floyd in the summer of 2020 led to greater social justice awareness, causing more governments and businesses to increase contracts with Black-owned businesses (Lurye, 2022).

Exploration of Legislative Efforts

REINTRODUCING THE JOBS AND JUSTICE ACT OF 2020

On September 23, 2020, members of the Congressional Black Caucus (CBC) revealed the second edition to the Jobs and Justice Act of 2020 (H.R. 8352) reintroduced in the 116th Congress. This legislation was developed to increase the upward mobility of Black families in America. The bill was first introduced in 2018 by former CBC Chair Cedric Richmond. The Jobs and Justice Act of 2020 is a comprehensive package of over 200 bills that aims to address a wide range of issues including community and economic development, educational opportunities, health disparities, environmental justice, and comprehensive criminal justice reform. In this legislation, there are a range of policy solutions to help with the revitalization of the job sector, including small businesses and career opportunities in historically underserved communities, and measures of workforce strength (Jobs and Justice Act of 2020). While the bill did not pass, some significant provisions include:

• Authorize states to create local hiring bid specifications or hire local workers for bids and proposals related to federal-aid highway projects.

• Give the House of Representatives expression of using infrastructure spending bills to include development programs that recruit and train people from communities with high unemployment rates.

• Invest $100 billion to create over 2 million jobs by addressing important physical and digital infrastructure needs in schools.

• Create new programs or alter existing workforce and community development programs to include the Department of Labor awarding grants for job skills training for older individuals and workers in highly skilled industries. Additionally, the Department of Education shall award scholarships to students pursuing degrees in STEM and teaching certifications.

• Require federal agencies to study who has the most impact on women’s participation in the workforce.

• Develop the “Minority Bank Deposit Program” to increase the use of minority banks, women’s banks, and low-income credit unions and requiring federal agencies to develop plans to use the institutions for their banking needs.

• Direct the Department of Transportation to provide grants to institutions of higher education and other entities to develop a curriculum for and create transportation worker training programs in urban and rural areas.

The reintroduction of the Jobs and Justice Act of 2020 in Congress is essential for sustaining the upward economic movement for the Black community. The legislation has many solutions to combat the forecasted increase in national unemployment rates. Among its provisions are incentives to bolster small businesses, initiatives aimed at bridging the gap between higher education and jobs skills training, with a focus on leveraging historically Black colleges and universities. Additionally, the bill uplifts minorities, specifically, women in the business space through grants and programs. Lastly, it prioritizes equipping children with essential financial literacy skills, laying the foundation for their future success.

SAVE AFFORDABLE HOUSING ACT OF 2023

The Save Affordable Housing Act of 2023 (H.R. 3719), introduced on May 25, 2023, was developed to amend the Internal Revenue Code of 1986 by repealing the qualified contract exception to the extended low-income housing commitment rules.

Under current legislation, properties eligible for this housing tax credit are contingent on a 30-year affordability period, in which property values are set below market rate. The qualified contract option allows property owners to convert to current market rates after 15 years. If passed, this legislation would directly benefit the Black community, who have historically faced disproportionate housing insecurity and minimal affordable housing options. This bill also allows for the maintenance of affordable housing units. Further, the provisions within the bill can help families secure housing, which will help further economic mobility, such as employment and education.

21ST CENTURY ENTREPRENEURSHIP ACT AND EXPANSIONS FOR SMALL BUSINESSES

The 21st Century Entrepreneurship Act (S.1222) introduced April 20, 2023, in the Senate, will require the Small Business Administration (SBA) to create a curriculum for volunteers with the Service Corps of Retired Executives to teach underrepresented students about entrepreneurship. The SBA will develop and execute a strategy to encourage partnerships with community learning centers and collaborate with education specialists. The enactment of this legislation will help with future generations of Black children and families by providing them with the opportunity to learn the skills necessary for entrepreneurship, that can have lasting impacts.

BIDEN-HARRIS “BAN THE BOX” INITIATIVE

In January 2024, the Biden-Harris Administration announced expansions to small business access to federal contracts (White House, 2024). The actions outlined include new guidance to federal agencies to help small businesses participate in highuse federal contracts, improved technical assistance for businesses wanting to work with the federal government, and a new SBA rule change to improve pathways to entrepreneurship for formerly incarcerated people. The new SBA rule change (“Ban the Box” initiative) eliminates the SBA capital program restrictions on individuals who have served their sentences. Implementing this initiative will help millions who would not have been considered because of their criminal history. Further, Black individuals have been disproportionately impacted by the carceral system and these initiatives are the first step in continuing to eliminate barriers against returning citizens.

In the ongoing pursuit drive for economic empowerment and correcting systemic disparities, recent congressional sessions have prioritized legislative initiatives aimed at helping the Black community. These include the reintroduction of the Jobs and Justice Act of 2020 , underscoring the importance of creating legitimate pathways for Black

economic opportunity. Additionally, the introduction of the S ave Affordable Housing Act of 2023 t argets housing disparities, recognizing the impact of stable housing on economic success. The 21st Century Entrepreneurship Act and expansions of SBA rules demonstrate futuristic thought, acknowledging the significance of enhancing Black entrepreneurship. Collectively, these legislative efforts create a framework poised to unlock the full economic potential of the Black community.

BLACK ECONOMICS IN 2024

“Black economics” refers to economic activities and initiatives aimed at addressing economic disparities and promoting economic empowerment among the Black community. Black spending power surpasses $1 trillion in the U.S. and is expected reach close to $2 trillion in 2024, showcasing the influence that Black Americans have on the U.S. economy (McMillen, 2023). Further, the circulation of the Black dollar ranges from streaming to buying Black and social movements. For example, outside of the trillions of dollars in Black buying power, 48% of Black families use online shopping, 66% of Black viewers buy from representative content broadcasted, 92% of the Black population listen to the radio every week, and 51% of Black representation in TV programs (Nielsen, 2021).

In 2024, economic success involves harnessing the current spending power of the Black dollar, increasing wealth building, entrepreneurship, workforce advancement, and voting power. Strategies and policies to strengthen economic success include:

• Entrepreneurship: Encouraging and continuing to support Black-owned businesses is fundamental for Black economics. Historical and systemic barriers, such as limited access to capital, education, and networking opportunities, have disproportionately affected marginalized communities, including Black individuals. Despite these challenges, many Black entrepreneurs have demonstrated resilience and innovation in pursuing economic success. Therefore, creating initiatives to help with startups, access to capital, mentorship programs, and developing supportive business environments and combat barriers Black entrepreneurs face, such as high interest rates, challenging lending requirements, and few formal networks is critical (Black Economic Alliance Foundation, 2023). Further, more funding and initiatives for collaborations is necessary for Black women-owned businesses to increase Black women in the workforce.

• Wealth Building: Approximately, 6% of Black adults in the U.S. had annual income of $100,000 or more in 2021, which rises to 16% for adults with a bachelor’s or more and decreases to 2% for individuals with less education (Edwards, 2023). To increase Black wealth and address the racial wealth gap efforts should be made to increase Black homeownership, asset investment, and other wealth-building opportunities, such as stocks and trades.

• Education and Training: Improving access to quality education and vocational training is essential, especially during secondary school. For example, there should be increased attention towards education involving high paying trade careers (e.g., welding, plumbing and electricity, refinery) that guarantee licensure for school graduates that can lead to better employment prospects and increased future earning potential.

• Community Investment: Reinvestment in the community, support of local businesses, local job creation, and community development projects is important to spearhead economic upward mobility. For instance, continued spending with Black businesses and supporting Black creators keeps the Black dollar circulating within the community.

Conclusion

The longstanding 2-to-1 ratio between Black and white workers has persisted for decades, showcasing a deeply rooted issue that transcends educational backgrounds. Despite strides in education, Black workers continue to face systemic challenges that may hinder professional advancement. The COVID-19 pandemic exacerbated these challenges, disproportionately affecting Black workers. Black essential workers faced an increased risk of contraction of the virus and death, often lacking the privilege of remote work. Simultaneously, high unemployment rates disproportionately impacted the Black community, with small Black-owned businesses struggling to survive the COVID-19 pandemic economy. However, amidst these challenges, there is resilience and positive change. For example, the rise in Black self-employment and increased support for Black-owned businesses reflects a growing awareness of the need for economic empowerment within the Black community. Building upon these positive trends and fostering an environment that promotes entrepreneurship and economic independence is crucial. Moreover, recognizing the need for substantial change, it is vital to pass the Jobs and Justice Act of 2020 . These legislative initiatives emphasize the upward mobility of Blacks and minorities by addressing critical issues such as local hiring in areas with high unemployment, investment in schools for job skills, entrepreneurship, training, and STEM pathways, increased use of minority-owned banking systems, opportunities for formerly incarcerated individuals to accumulate wealth, and solutions for transportation infrastructures to facilitate access to employment opportunities.

The importance of Black upward mobility in the current economic landscape cannot be overstated. By tackling systemic barriers and implementing inclusive policies, the aim is to not only achieve record-low unemployment rates but foster lasting economic advancement within the Black community. It is a collective responsibility to ensure that the recent strides are maintained and expanded upon, creating a future where opportunities are truly equitable.

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CPAR | Economic Resurgence: Black Employment in Transition

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