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COMMENTARY: How Strong is Our Economy?

NNPA NEWSWIRE — “How strong is our economy? It is undoubtedly stronger than it was a year ago, but it’s not as strong as some claim that it is. Labor market weaknesses and inequality are of particular concern to African Americans. Companies are hiring, but they aren’t hiring enough African Americans to close the unemployment rate gap.”

Published

4 years ago

May 4, 2019

Oakland Post

By Julianne Malveaux, NNPA Newswire Contributor

The April unemployment rate, at 3.6 percent, is at its lowest rate since December 1969. Payroll employment increased by more than 250,000, outperforming expectations and reversing the disappointing job creation numbers of last month. First quarter growth was reported at 3.2 percent, a robust figure that exceeds estimates, earlier this year, that growth would be somewhat slower. This perhaps gives the man who lives in the House that Enslaved People Built something to crow about since he so enjoys crowing. But many economists are waiting for the other shoe to drop, having workshops and forums about the coming recession. And as positive as the numbers seem, there are always gaps and inequities reflected in the fine print.

Take the unemployment rate. It declined overall, and for adult men and women, whites, Asians and Hispanics. At the same time, the unemployment rates for African Americans and teenagers were unchanged. The Black unemployment rate, at 6.7 percent, is more than twice the white rate of 3.1 percent. This ratio of 2.16 percent is higher than the usual 2:1 unemployment rate, widening inequality. Should African Americans really celebrate a strong labor market when so many are sidelined from it? Despite claims of economic improvement and an improvement in some of the indicators, the fact that others remain stagnant is telling. For example, 1.2 million people have been out of work for more than half a year. They represent one in five of the unemployed. The number may seem small, but the persistence of unemployment for some individuals should be troubling for those who make public policy.

The number of people who are considered “marginally attached” to the labor force, which means that they’d work if they could find work, but they’ve ceased to look, is the same as it was this time last year. These marginally attached workers include discouraged workers, and there are nearly half a million of them, again the same as last year. With these numbers being at the same level as they were a year ago, there is an indication that the 3.6 percent unemployment rate that is being hailed as so historic is a false indicator of progress. While employers are clearly hiring, they aren’t hiring enough people to make those at the bottom confident enough to look for work!

The labor force participation rate is also falling, again suggesting that our “strong economy” is not pulling enough more people into the labor market. Instead, some are leaving! Why? Even though wages grew at 3.2 percent last month, which is more than they increased last year, they have not yet reached the 3.5 percent level that the Federal Reserve Bank would consider healthy. Thus, the Fed indicated that they change the interest rate, although 45 has pushed for a full percentage point drop in the interest. I’m not sure what part of the Fed’s independence he fails to understand!

The Fed’s decision to hold interest rates constant is partly a result of weaknesses in the first quarter growth report. It’s always good news when the growth rate is more than 3 percent, but consumer spending is down for the third straight quarter. While the words “government shutdown” have not been uttered recently, the 2018-2019 35-day shutdown clearly had some impact on consumer spending. Many expected that purchases deferred in January and February might be realized in March, but too many consumers who are still recovering from the shutdown and many, who are not government employees but contractors, who lost roughly 12 percent of their annual income. They won’t be doing much discretionary spending this year!

How strong is our economy? It is undoubtedly stronger than it was a year ago, but it’s not as strong as some claim that it is. Labor market weaknesses and inequality are of particular concern to African Americans. Companies are hiring, but they aren’t hiring enough African Americans to close the unemployment rate gap. There is legislation that might improve the economic status of African Americans. HR 7, the Paycheck Fairness Act, would provide remedies to close the gender pay gap. Congressional Black Caucus member Bobby Scott (D-VA) introduced the Raise the Wage Act, HR 582. It would provide increases in the federal minimum wage to $15.00 by 2024. According to the Economic Policy Institute, the legislation would give African American workers a 38 percent pay increase (compared to 23 percent for white workers). And when workers earn more, they can spend more, strengthening economic growth.

Whenever you hear the words “strong economy,” think of the folks at the bottom. While the top one percent are certainly benefitting from growth and expansion, those at the bottom haven’t yet benefitted. Indeed, some have yet to recover from the Great Recession. Why aren’t the needs of those on the bottom, those who are poor (the data says 40 million people, but Rev. William Barber says it’s more like 140 million) significant enough to address?

Julianne Malveaux is an author and economist. Her latest project MALVEAUX! On UDCTV is available on youtube.com. For booking, wholesale inquiries or for more info visit www.juliannemalveaux.com.

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WATCH LIVE! — NNPA 2023 National Leadership Awards Reception

NNPA NEWSWIRE — Welcome to the NNPA 2023 National Leadership Awards Reception
The post WATCH LIVE! — NNPA 2023 National Leadership Awards Reception first appeared on BlackPressUSA.

Published

5 days ago

September 22, 2023

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The post WATCH LIVE! — NNPA 2023 National Leadership Awards Reception first appeared on BlackPressUSA.

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OP-ED: Delivering Climate Resilience Funding to Communities that Need it the Most

NNPA NEWSWIRE — Just last month, FEMA announced nearly $3 billion in climate mitigation project selections nationwide to help communities build resilience through its Building Resilient Infrastructure and Communities (BRIC) national competition and Flood Mitigation Assistance program. In total, more than 50% of these projects will benefit disadvantaged communities, and in particular, 70% of BRIC projects will do the same.
The post OP-ED: Delivering Climate Resilience Funding to Communities that Need it the Most first appeared on BlackPressUSA.

Published

5 days ago

September 22, 2023

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By Erik A. Hooks, FEMA Deputy Administrator

We know that disasters do not discriminate. Yet, recovery from the same event can be uneven from community to community, perpetuating pre-existing inequalities. Recognizing these disparities, FEMA and the entire Biden-Harris Administration have prioritized equity when it comes to accessing federal programs and resources.

The numbers tell the story.

Just last month, FEMA announced nearly $3 billion in climate mitigation project selections nationwide to help communities build resilience through its Building Resilient Infrastructure and Communities (BRIC) national competition and Flood Mitigation Assistance program. In total, more than 50% of these projects will benefit disadvantaged communities, and in particular, 70% of BRIC projects will do the same.

These selections further underscore the Biden-Harris Administration’s commitment to equity and reaffirm FEMA’s mission of helping people before, during and after disasters, delivering funding to the communities that need it most.

Building on this momentum and our people-first approach, FEMA recently announced the initial designation of nearly 500 census tracts, which will be eligible for increased federal support to become more resilient to natural hazards and extreme weather worsened by the climate crisis. FEMA will use “Community Disaster Resilience Zone” designations to direct and manage financial and technical assistance for resilience projects nationwide, targeting communities most at risk due to climate change. More Community Disaster Resilience Zone designations, including tribal lands and territories, are expected to be announced in the fall of 2023.

These types of investments have, and will yield a significant return on investment for communities nationwide.

For example, in my home state of North Carolina, the historic community of Princeville, founded by freed African American slaves, uses BRIC funding to move vulnerable homes and critical utilities out of flood-prone areas.

In East Harlem, BRIC dollars will provide nature-based flood control solutions to mitigate the impacts of extreme rainfall events in the Clinton low-income housing community.

While we are encouraged by these investments, we know more must be done.

Not every community has the personnel, the time or the resources to apply for these federal dollars. Fortunately, FEMA offers free, Direct Technical Assistance to help under-resourced communities navigate the grant application process and get connected with critical resources. Under the leadership of FEMA Administrator Deanne Criswell, this assistance has been a game-changer, reducing barriers and providing even more flexible, customer-focused, tailored support to communities interested in building and sustaining successful resilience programs.

In Eastwick, Philadelphia, FEMA’s dedicated support helped the city with outreach to multiple federal agencies. Together, we built a comprehensive community-led flood mitigation strategy. When applied and implemented, this will make this community more resilient to hazards like flooding, which was negatively affecting many neighborhood blocks.

In DePue, Illinois, we worked hand-in-hand with communities to improve their ability to submit high-quality funding applications for hazard mitigation projects. We are happy to share that DePue is the first Direct Technical Assistance community to be selected in the BRIC national competition. And, we know they will not be the last. Thanks to this assistance and their ambition, DePue was awarded more than $20 million to build a new wastewater treatment plant, which will reduce flooding and raw sewage back-up into the basements of homes.

In total, our agency is working with over 70 communities, including tribal nations, to increase access to funding for mitigation projects that will make communities more livable and resilient.

With extreme weather events becoming increasingly intense and frequent due to climate change, we must keep pressing forward and continue investing in ways to better protect ourselves and our neighbors. And we are encouraged that local officials are engaging with us to learn more about the benefits of the BRIC non-financial Direct Technical Assistance initiative—just last week, we saw hundreds of participants nationwide register for a recent webinar on this important topic.

We want to see even more communities take advantage of this initiative, and, ultimately, obtain grants for innovative and forward-looking resilience projects. To that end, FEMA recently published a blog with five steps to help local communities and tribal nations learn more about the benefits of this non-financial technical assistance to access federal funding. I hope your community will take action and submit a letter of interest for this exciting opportunity and increase meaningful mitigation work throughout the country.

With the pace of disasters accelerating, communities can utilize federal resources to reduce their risk and take action to save property and lives. FEMA stands ready to be a partner and collaborator with any community that is ready to implement creative mitigation strategies and help build our nation’s resilience.

The post OP-ED: Delivering Climate Resilience Funding to Communities that Need it the Most first appeared on BlackPressUSA.

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Tale of Two Underground Railroad Communities

ARIZONA INFORMANT — Prior to the Civil War, many communities in the Ohio River Valley were a part of an elaborate system that provided resources and protection for enslaved persons from Southern states on their journey to freedom. Once someone crossed the Ohio River, they traveled along unknown terrain of trails to safe houses and hiding places that would become known as the Underground Railroad.
The post Tale of Two Underground Railroad Communities first appeared on BlackPressUSA.

Published

1 week ago

September 20, 2023

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By Christopher J. Miller, Sr. Director of Education & Community Engagement, National Underground Railroad Freedom Center

Christopher J. Miller

September is International Underground Railroad Month.

This proclamation began in the State of Maryland in 2019, and now more than 11 States officially celebrate one of the most significant eras in U.S. history. With the signing of Ohio HB 340 in June 2022, Ohio became the 12^th state to designate September International Underground Railroad Month.

Many history enthusiasts and scholars hope the momentum of the proclamation spreads to other states so that all our forebears of freedom are remembered.

Examining this era, you find that the Ohio River Valley is instrumental in the many narratives of freedom seekers. These stories are critical to our understanding of race relations and civic responsibilities.

Before the Civil War, many communities in the Ohio River Valley were part of an elaborate system that provided resources and protection for enslaved persons from Southern states on their journey to freedom. Once someone crossed the Ohio River, they traveled along unknown terrain of trails to safe houses and hiding places that would become known as the Underground Railroad.

Gateway to Freedom sign

The Underground Railroad was comprised of courageous people who were held to a higher law that confronted the institution of slavery with acts of civil disobedience by helping freedom seekers elude enslavers and slave hunters and help them get to Canada.

Many communities were a force for freedom along the more than 900-mile stretch of the Ohio River Valley, but I would like to focus on two significant communities.

Southern Indiana was a major part of this history. It was originally believed that there were from Posey to South Bend, Corydon to Porter, and Madison to DeKalb County, with many stops in between.

In further examination, the Underground Railroad in Indiana was a web of trails through the forests, swamps, briars, and dirt roads. The city that is often overlooked in reflecting on the history of the Underground Railroad is New Albany, Indiana.

By 1850, New Albany was the largest city in Indiana, with a population of 8,632. Free Blacks accounted for 502 of that population. Across the river, Louisville was Kentucky’s largest city, with a population of 42,829. A quarter of the 6,687 Black population were free in Louisville.

Town Clock Church (aerial view)

Louisville and New Albany would grow to become a significant region for Underground Railroad activity. People like Henson McIntosh became a prominent community member and major Underground Railroad conductor. McIntosh was one of approximately ten Underground Railroad agents in New Albany who used their wealth and influence to impact the lives of freedom seekers crossing the Ohio River.

The Carnegie Center for Art & History is an outstanding resource that continues to preserve New Albany’s role during the Underground Railroad era. Approximately 104 miles east along the Ohio River is another institution that plays a critical role in elevating the profile of the Underground Railroad on a national scope.

Inside Town Clock Church New Albany Indiana safe house

The National Underground Railroad Freedom Center is located on the banks of the Ohio River in Cincinnati, Ohio.

By 1850, Cincinnati would grow to be the 6^th largest city in the Union, with a sizable Black population.

The Freedom Center is prominently located in the heart of a historic Black community called Little Africa. Although the community no longer exists, its legacy lives on through the Freedom Center.

As with New Albany, the community that resided along the banks of the river served an important role in the story of the Underground Railroad. Little Africa was the gateway to freedom for thousands of freedom seekers escaping slavery.

Although there were Underground Railroad networks throughout the country, Ohio had the most active network of any other state, with approximately 3,000 miles of routes used by an estimated 40,000 freedom seekers that crossed through Little Africa.

Despite the growth of enslavement leading up to the Civil War, communities such as Little Africa and New Albany reveal the realities regarding race relations and a model for the dignity of human life through their respective efforts to be kind and resilient friends for the freedom seekers.

For More Information:

National Underground Railroad Freedom Center – https://freedomcenter.org/

Cincinnati Tourism – https://www.visitcincy.com/

Carnegie Center for Art & History – https://carnegiecenter.org/

Southern Indiana Tourism – https://www.gosoin.com/

The post Tale of Two Underground Railroad Communities first appeared on BlackPressUSA.