The Great Recession of 2007-10, has contributed to the loss of decades of wealth building in the African American community The significant loss of public sector jobs (a principal employer of African Americans) to the widening racial wealth divide, now more than ever there is an urgent need for targeted and focused efforts to help the African American population to undo this racial wealth inequality and racial inequity toward efforts focused on growing communities’ economic viability.
The failure to develop focused strategies aimed at Seattle’s African American community will continue to declining numbers of African American families and individuals. Currently at stake is the ability for many to remain a part of the American middle-class, and for others decreasing opportunities to have achieve, establish, and maintain a meaningful middle class status. For these reasons, the community economic development program area emphasizes wealth creation, job development, and community assets that inure benefits to all in a racially inclusive manner – http://www.naacp.org/
A critical component of economic viability at the individual and community level calls for sustained and gainful employment at a livable wage is essential and represents the cornerstone to improving African American communities. Increased employment would help people in these communities lift themselves out of poverty. In addition, because poor economic conditions are an important causal factor behind poor educational outcomes and high crime rates are correlated with high unemployment rates, creating job opportunities would help improve educational outcomes and reduce crime. Economic Policy Institute – http://www.epi.org/publication/bp328-african-american-unemployment/