(ThyBlackMan.com) Many of us do not know, the African American community has been in a Great Recession for the last six months, due to their unemployment rate averaging above 10.0%. The nation, in 2008 was declared to be in a Great Recession by the Obama administration, when the national rate hit 10.0%. The Real and most comprehensive unemployment rate, per the Bureau of Labor Statistics economists (BLS) for September is 7.7%, the black rate averages 2.7% over the real rate and is 10.4% for September.
Due to the lack of vision, and leadership at Black Lives Matter Global Network Foundation (BLMGNF), whose job, and responsibility it is, to make sure the economic lives of Black Americans matter, African Americans are unaware, they are in a Great Recession. At the very least we should know the real, and true economic status of the American black community, and why it is harder to find full-time employment that pays a living wage.
So, what does a 10.4% September black unemployment rate mean; what are we really talking about, and how badly are Black American workers really doing, when it comes to the Biden-Harris economy? It is truly shocking, but with active, and knowledgeable leadership, a bright and prosperous outcome is, well within our grasp. We have to first understand the economy, and once reaching that understanding be prepared with solutions, in order to get support from the Biden-Harris administration (they are not our enemy), but you have to know what to ask for. Cicley Gay, BLMGNF’s current leader, is not instilling within us, the confidence we need, going forward. Rebranding away, the obligation of BLMGNF, to the African American community, is certainly not the answer. BLMGNF is estimated to have $30,000,000 in its coffers. The article at the link will give you more understanding of her efforts to rebrand BLMGNF –
https://thyblackman.com/2024/09/26/as-blm-global-network-foundation-rebrands-itself-they-will-take-down-30000000-estimated-with-little-oversight/.
As stated above, the African American worker group unemployment rate is at 10.4% – that means, as of September; 10 out of every 100 Black American workers cannot find a full-time Job that pays a living wage, as that individual understands what a living wage is, or cannot find full-time employment in the area of their expertise or experience (we round down 10.4% because it is below 10.5, the break point – so 10.4 becomes 10). Out of 1,000 Black American workers – that number would be 100 Black American workers. Out of 10,000 Black American workers – that number is 1,000 Black American workers for every 10,000 workers cannot find full-time employment in the Biden administration’s economy. And when you get to 100,000 African American workers, 10,000 cannot find full-time employment paying a living wage. This is the actual TRUTH based on what is the Real unemployment rate.
In regard to the overall Real unemployment rate – which is 7.7% – again you round up and that means overall, 8 American workers regardless of race, out of every 100 cannot find full-time employment based on the same criteria as stated above. And that would be 80 out of every 1,000 workers and 800 out of every 10,000 workers. The Biden-Harris administration “official unemployment rate of 4.1%,” which is not comprehensive of the nation’s Job situation, states only 4 American workers out of every 100 are unable to find full-time employment based on the same criteria as stated above. Because the number Biden uses is 4.1% (below the 4.5 break point) you round down, getting the number, 4. So that would be 40 out of every 1,000 workers, or 400 out of every 10,000 American workers.
If I had Cicley Gay’s job, I would let Facts and the Truth be my guide to leading, growing and managing BLMGNF, and the situation the African American community finds itself. Not only does BLMGNF have the economic clout to help All Americans, including African Americans, they have the standing as well, as Cicley Gay herself, put it in this statement, BLMGNF is “the largest” … black philanthropic organization ever to exist in the United States.”
It is a fact African Americans as a worker group are in the midst of a Great Recession and have been since May of 2024. Additionally, it is true, the Biden-Harris administration is hiding, or concealing this fact through the vile policy of undercounting the unemployment rates of American workers, hiding the lay-offs, not only of African Americans, but everyone, including women workers, and women with the responsibilities of heading households, with children. It is a devious policy, indeed. But you have to be open to facts, and the truth to clearly see that, and Cicley Gay does not appear to be of that persuasion, as she embarks upon a strategy of abandoning BLMGNF’s obligation to helping Black Americans, economically, through rebranding.
It has been established Democrats are the culprits in the scam of undercounting our unemployment rates, leading to hiding our layoffs. Please understand, there is no intent here, to make Democrats, and the Biden-Harris administration look bad, we are just stating facts. If Black America, BLMGNF and the nation are going to find solutions, we have to deal with facts, which is the key to finding those solutions. If you go to this link, you certainly will get verifiable proof and an education on the role Democrats play in this scheme. And while there, click on the links within the article for more details – https://thyblackman.com/2024/08/18/kamala-harris-economic-policy-the-truth-behind-undercounting-unemployment-rates/.
President Biden can’t deny facts, and the Truth when it comes to the Real economy, no matter how hard he tries, saying his 4.1% Job rate, is comprehensive, of our Job Situation. The 4.1% Job rate, U-3, he announced, as his official rate of unemployment for September, taken from the Table of Alternative Measures of Labor Underutilization was never meant to be comprehensive of our Unemployment Situation, as it is narrow in scope. BLS economists, in 1994, during the Clinton administration, when the Job rate categories were redone, identified the U-6 category rate, at 7.7% as the REAL, and most comprehensive Job rate.
In the January 6th hearings, we saw the “Truth,” make a difference. The affirmation of the truth, by the January Sixth Committee, will be permanently positive, for our Democracy. By referring Mr. Trump to the Department of Justice, on 4 charges of wrongdoing, the Committee says, Mr. Trump is not above the law, which means the TRUTH mattered, to the Committee. Remember, the January sixth insurrection, started with Trump’s “Big Lie,” which challenged, and continues to challenge the honesty of our institutions.
But, Democratic party members, who champion the actions of the January 6th Committee, in their affirmation of the truth, continue to look pass the Biden-Harris administration lie about our unemployment rates, saying his 4.1% September rate is comprehensive of our Job Situation. It is not. Let us be blunt, the Biden-Harris administration distorts the state of our economy, saying we have a 4.1% unemployment rate economy, when we have a 7.7% unemployment rate economy.
Some of you may not understand how a few percentages, can make a gigantic difference. If you undercount our unemployment rates, which leads to hiding layoffs, with a Job rate lower (Biden’s 4.1% rate for September) than the real Job rate, (7.7%), “The Biden-Harris administration deliberately, counts only 53% of all laid-off workers and that makes all the difference.” He leaves 47% of laid-off workers, uncounted, and unseen by Congressional policymakers who use Biden’s numbers to fashion legislation to help unemployed American workers. Thus, Biden’s use of the U-3 Jobless rate, is purposely misleading (he should count all unemployed workers). Instead of advocating economic policies to fix the Real economy, the Biden-Harris administration is covering up what is a poor economy, projecting 4.1%, as being comprehensive of our Monthly Unemployment Situation, when the Real and comprehensive unemployment rate is U-6 at 7.7%; and they don’t deny they are doing this. The truth and facts matter; advice presently ignored by Cicley Gay, and BLM Global Network Foundation, to the detriment of the African American community.
Staff Writer; James Davis
Question? Comment? One may use this email address; MrDavis@ThyBlackMan.com.
