It’s Worst Than We Thought / Black Male Unemployment Up!
(ThyBlackMan.com) The unemployment numbers for September are finally in and as predicted blacks did not fare well (http://thyblackman.com/2013/09/30/bleak-economic-outlook-for-blacks-based-on-feds-actions/). There is no question; blacks as a working group are in dire straits. When you include the Bush administration, blacks have experienced double-digit unemployment for the last six years without interruption. They have not seen single-digit unemployment numbers since the economic downturn known as the Great Recession of 2008 started. It should be embarrassing to black people, black leaders, and black politicians that this story is not getting more attention.
It’s a travesty and a tragedy that blacks are suffering just outside the media spotlight and are being ignored by the Congressional Black Caucus, whose focus of late is adding to their suffering by their backing of comprehensive immigration reform. They support this legislation without demanding this president address the issue of double-digit black unemployment and the need for a national job creation plan. President Obama, to the dismay of many brothers and sisters has made comprehensive immigration reform his #2 legislative priority.
Meanwhile, the most important concerns of the black community, the president’s most loyal constituency, are job security and job creation. The current black unemployment rate for September is 12.9% while the national unemployment rate for the same period is 7.2%. Black male unemployment increased to 14.5% in September from the previous month’s 13.5%. It is common knowledge that these official numbers are not correct. The real rate of black unemployment could be higher by as much as 2% to 5% or even more. President Obama, the Congressional Black Caucus, and the Democratic Party, if they have their way, will unleash by the end of the year over 12 million undocumented immigrants upon the American labor market! Blacks have the highest unemployment rate of any working group in America. There is no question they will be negatively impacted by the influx of 12 million additional workers.
Does anyone think these newly minted citizens are going to stay down on the farm once they have been given the legal right to compete within the American job market with impunity? Does anyone think if the border is not secured, that more illegal aliens will not cross it seeking to become citizens of the United States? Do we not think for a moment immigrant-citizens already in the country will not help others who want to come to America “game” whatever path to citizenship system we establish? Even the Congressional Budget Office projects lower wages will result initially as these 12 million immigrants compromise the wages of the American worker as they seek employment in an anemic job market. Last month the Bureau of Labor Statistics (BLS) reported the economy created only 148,000 jobs. That is way off the monthly pace of 250,000 to 300,000 needed to make this a healthy recovery.
In fact, when you look back over the last several months starting in January, there was only one month when the economy created more than 200,000 jobs. That was in the month of February when the Bureau of Labor Statistics reported the economy created 236,000 jobs. The rest of the months during this year as indicated, job creation was fewer than 200,000 with the month of March showing a low of only 88,000 jobs created (the jobs numbers are based on the original job numbers reported by the BLS). Looking beyond the lower than normal trending job creation numbers, you have to ask yourself what “responsible government leadership” would allow 12 million plus new workers to enter a national labor pool that is already suffering from over capacity, (over 11 million Americans are currently unemployed) without a national job creation plan? The Obama administration and the Congressional Black Caucus are completely out of step with the desires of its most supportive constituency, black America.
The economic road ahead in the coming months will be difficult for blacks as the Federal Reserve Bank (Fed) may have to continue its $85 billion dollar a month bond-buying program possibly into 2014. By continuing the program, the Fed is “signaling” the economy is inadequately recovering. The program’s objective is to keep interest rates low (see article above in italics). However, “quantitative easing,” which is what the bond-buying program is called is not designed nor is expected to create jobs; it is an effort by the Fed to provide the right economic environment for job creation.
It is we the people who have an obligation at this time to step forth when our political representatives fail us and demand our economic interest be addressed. We should demand that a national job creation plan be the price of passing a comprehensive immigration reform bill. Otherwise, our path to economic recovery will be bleak indeed ( http://www.sslumpsum.com ).
Staff Writer; James Davis
More information about JD and his Deficit Neutral Stimulus Plan Can be founded at http://www.sslumpsum.com.
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