Business

Black Unemployment Dips to 10.3 Percent

Published

10 years ago

February 10, 2015

Oakland Post

Economist Valerie R. Wilson believes Black unemployment can fall to single digits.

By Freddie Allen
NNPA Senior Washington Correspondent

WASHINGTON (NNPA) – The Black unemployment rate fell slightly from 10.4 percent in December to 10.3 percent in January and is still on track to hit single digits by the middle of the year.

Last month, Valerie Wilson, the director of the Program on Race, Ethnicity, and the Economy for the Economic Policy Institute (EPI), a nonpartisan think tank focused on low- and middle-income workers, made the prediction that the Black jobless rate would fall below 10 percent, adding that the economy is recovering gradually and lawmakers shouldn’t do anything that would stall that progress.

Wilson warned that more spending cuts or raising interest rates could slow down the economy.

“If there are no signs of inflationary pressures, I don’t see the rush to do it,” said Wilson.

Economists attributed the slight uptick in the national unemployment rate, from 5.6 percent in December to 5.7 percent in January, to workers feeling more confident about their job prospects and rejoining the labor force.

With revisions to the number of jobs added in November and December, the Labor Department reported that more than 1 million jobs were added to the United States economy over the past three months, the best 3-month average since 1997.

Following the national trend, the White unemployment rate rose from 4.8 percent in December to 4.9 percent in January and the labor force participation rate, the share of workers who are employed or currently looking for jobs, also increased from 59.8 percent to 60.1 percent.

Even though, the Black labor force participation rate fell from 61.3 in December to 61 percent in January, it still remains higher than it was in January 2014. The participation rate for Black men over 20 years-old also decreased in January, but was one percentage point higher last month than it was this time last year.

Black women and White men and women over 20 years-old had higher participation rates in January 2015, compared to December 2014, but among the adult worker groups, only Black men had a higher labor force participation rate in January 2015 compared to January 2014.

The unemployment rate for Black men over 20 years old decreased from 11 percent in December to 10.6 percent in January, and the jobless rate for White men over 20 years old also increased from 4.4 percent to 4.5 percent in January.

The jobless rate for Black women rose from 8.2 percent in December to 8.7 percent in January and for the second month in a row, the jobless rate for White women was 4.4 percent.

In a statement on January’s jobs report Chad Stone, Chief Economist for the Center on Budget and Policy Priorities, a research and analysis group that works on federal and state fiscal policy, said that as the labor market continues to improve “significant slack” still lingers.

“Ongoing labor market slack is particularly hard on the long-term unemployed, whose skills tend to erode while they remain jobless and who often seem stigmatized for being out of work so long when they apply for a job,” said Stone. “It’s unfortunate that federal UI [unemployment insurance] benefits for the long-term unemployed expired at the end of 2013; it’s even more unfortunate that in recent years, several states have made it harder for people who lose their job through no fault of their own to qualify for any UI.”

Blacks disproportionately suffer from long-term unemployment and in an effort to address this crisis, Stone said that President Barack Obama has acknowledged these problems by including “a set of major UI proposals in his new budget request that would both shore up UI financing for the long term and reform the federal Extended Benefits program to make additional weeks of UI available automatically in states with high or rapidly rising unemployment rates.”

During a speech in Indianapolis, Ind., President Obama celebrated the latest jobs numbers and touted his middle-class economic philosophy crafted to help more working families afford higher education, get paid sick leave at work and save for retirement. Obama said “while we’ve come a long way, we’ve got more work to do to make sure that our recovery reaches more Americans, not just those at the top.”

Repeating a familiar theme, he said, “That’s what middle-class economics is all about – the idea that this country does best when everyone gets their fair shot, does their fair share, and everyone plays by the same set of rules.”

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Pamela Price Appoints Deputy D.A. Jennifer Kassan as New Director of Community Support Bureau

On Monday, District Attorney Pamela Price announced Deputy District Attorney Jennifer Kassan as the new director of the Community Support Bureau. Kassan has over 25 years of experience as an attorney and advisor for mission-driven enterprises including benefit corporations, low-profit limited liability companies, nonprofits, cooperatives, hybrid organizations, investment funds, and purpose trusts.

Published

13 hours ago

November 4, 2024

Oakland Post

Alameda County Deputy District Attorney Jennifer Kassan. Courtesy photo.

Special to The Post

On Monday, District Attorney Pamela Price announced Deputy District Attorney Jennifer Kassan as the new director of the Community Support Bureau.

Kassan has over 25 years of experience as an attorney and advisor for mission-driven enterprises including benefit corporations, low-profit limited liability companies, nonprofits, cooperatives, hybrid organizations, investment funds, and purpose trusts.

Working in the DA’s new administration since 2023, Kassan was most recently assigned to the Organized Retail Theft Prosecution team.

Kassan has a master’s degree in City Planning from the University of California, Berkeley. She received a National Science Foundation Fellowship from Yale Law School, and graduated from Yale Law School in 1995. She earned her B.A. in Psychology with a minor emphasis in Ethnic Studies from UC Berkeley.

Kassan’s education, extensive legal background, list of notable accomplishments and impressive resume includes helping to found and lead multiple organizations to support community wealth building including:

Community Ventures, a nonprofit organization that promotes locally-based community economic development,
the Sustainable Economies Law Center, a nonprofit that provides legal information, training, and representation to support sustainable economies
the Force for Good Fund, a nonprofit impact investment fund
Crowdfund Main Street, a licensed portal for regulation crowdfunding
Opportunity Main Street, a place-based ecosystem building organization that supports under-represented entrepreneurs and provides education about community-based investing.

In addition, Kassan served as an elected member of the City Council of Fremont, California from 2018 to 2024, and on the Securities and Exchange Commission Advisory Committee on Small and Emerging Companies.

In 2020 she was named to the list of World-Changing Women in Conscious Business by SOCAP Global.

“We are excited to see Jenny accept the role as the new leader for the Community Support Bureau,” said Price. “She brings a wealth of talent, experience, and a vision to expand our office’s engagement with community groups and residents, that will level-up our

outreach programs and partnerships with local organizations with the aim of promoting crime prevention.

“We thank Interim CSB Director Esther Lemus, who is now assigned to our office’s

Restitution Unit, for her hard work and a great job fostering positive relationships between the DAO and the community.”

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Business

Sacramento Kings and Black-Owned Digital License Plate Firm Enter History-Making Partnership

Reviver founder and Chief Strategy Officer Neville Boston attended the Sacramento Kings’ season opener at Golden 1 Center, witnessing players debut the company’s patch. Reviver proudly supports the Sacramento Kings’ community and diversity, equity, and inclusion initiatives. Photo by Antonio Ray Harvey, California Black Media (CBM).

Published

14 hours ago

November 4, 2024

Oakland Post

Reviver founder and Chief Strategy Officer Neville Boston attended the Sacramento Kings' season opener at Golden 1 Center, witnessing players debut the company's patch. Reviver proudly supports the Sacramento Kings' community and diversity, equity, and inclusion initiatives. Photo by Antonio Ray Harvey, California Black Media (CBM).

By Antonio Ray Harvey, California Black Media

Reviver, the world’s first digital license plate and connected vehicle platform, has entered into a history-making jersey patch partnership with the Sacramento Kings, team officials announced right before the team’s season opener on Oct. 24.

The collaboration establishes Reviver as the first Black-founded technology jersey patch partner in the National Basketball Association (NBA).

The Reviver logo now appears on the left front strap of Kings’ uniforms.

Reviver founder and Chief Strategy Officer Neville Boston was in attendance to see the company’s patch worn by the Kings, during a game with the Minnesota Timberwolves at Golden 1 Center in downtown Sacramento.

“It was an absolutely amazing night. More than I ever expected,” Boston told California Black Media (CBM). “The Sacramento Kings have been incredible. On a national, and maybe a worldwide level, this partnership raises the profile of Reviver with the assistance of (Kings chairman and CEO) Vivek Ranadivé and the Kings.”

According to the Kings’ brass, Reviver, supported by the Black Star Fund, a Black-led venture capital firm based in Sacramento, is now an official “innovation partner” of the Kings and Golden 1 Center; a presenting partner of “Capitalize Technology,” a King’s corporate social investment initiative; and the exclusive digital license plate of the Sacramento Kings.

Headquartered in Granite Bay, a suburb of Sacramento, Reviver was born from a vision to modernize and streamline the vehicle registration renewal process. On Jan. 1, 2023, the state of California joined Georgia, Colorado, Michigan, and Arizona as states that have approved digital license plates for use statewide, after Reviver completed a four-year pilot program that evaluated a replacement for metal plates.

About 10,000 California drivers bought digital plates during the pilot program. Vehicles registered with the state are eligible to adopt the new high-tech tags. Reviver existence was made possible when Gov. Gavin Newsom signed Assembly Bill (AB) 984 in September 2022.

Under that law, California vehicle owners can update their titles, registrations, and other records remotely. In addition, the digital license “RPlate” includes a flashing message if a vehicle is reported stolen or if there is an Amber Alert.

Ranadivé is spreading the news that Reviver has international potential.

“This jersey patch partnership with Reviver continues the Kings long tradition of using our global platform to promote innovation and technology,” Ranadivé stated. “It’s particularly exciting to showcase a homegrown company that was part of our Kings Capitalize program. This is just the beginning of our work together, and we look forward to helping Reviver in its mission to modernize the driving experience.”

The commercial use of patches in professional basketball all began in 2009 when the Women’s Basketball Association (WNBA) Phoenix Mercury removed its name to replace it with sponsor, LifeLock, an identity-theft protection company. The landmark deal netted a contract worth about $1 million annually.

Kindra Montgomery-Block, vice president of diversity, equity, and social impact for the Sacramento Kings, was the integral facilitator who assisted Boston and his team in connecting with the sports franchise that is boasting 40 years in the Capital City.

“This partnership between the Kings and Reviver, backed by the Black Star Fund, will invest in the Sacramento community to promote technology and innovation in the region,” Montgomery-Block stated. “Reviver will support the Sacramento Kings community and diversity, equity, and inclusion initiatives.”

Editor’s Note: Neville Boston is a California Black Media board member.

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Activism

NAACP California-Hawaii State Convention Highlights Black Voter Engagement, and More

A Friday panel featuring NAACP Chairman Leon W. Russell and Regina Wilson, Executive Director of California Black Media, examined Project 2025, an initiative perceived as a potential threat to civil rights, healthcare access, and environmental protection. This session emphasized Project 2025’s projected impact on Black communities, noting that policies within the initiative could diminish gains in civil and environmental rights over decades. Russell and Wilson highlighted the need for vigilant monitoring and community mobilization to address these challenges.

Published

22 hours ago

November 4, 2024

Oakland Post

NAACP State Conference President Rick Callender (right) engages in a discussion on voter engagement and community advocacy with NAACP President and CEO Derrick Johnson during the 37th NAACP California-Hawaii State Convention in Los Angeles. Photo by Rich Woods.

By Bo Tefu, California Black Media

The 37th NAACP California-Hawaii State Convention concluded on Sunday, Oct 27, following four days of discussions and workshops at the Los Angeles Airport Marriott. Bringing together civil rights leaders, policymakers, and advocates from California and Hawaii, the convention operated under the theme “All In.” The participants discussed critical issues impacting Black communities, including criminal justice reform, health equity, economic empowerment, education, environmental justice, and voting rights.

On Saturday, the President’s Fireside Chat brought together NAACP President Derrick Johnson and CA/HI State Conference President Rick Callender, who discussed the urgency of voter engagement and community advocacy.

Guest speakers included Congresswoman Maxine Waters (D-CA-43), who spoke at the Women in NAACP (WIN) Labor Luncheon about the intersection of labor rights and civil rights. California State Superintendent Tony Thurmond delivered remarks at the Leadership Dinner on education equity, focusing on policies to ensure all students have access to high-quality education.

Honors were given to longtime social justice advocate and former Assemblymember Mike Davis for his work in community activism. At the same time, actor and activist Danny Glover and the Rev. Dr. Amos C. Brown received the 2024 Legacy Hall of Fame Awards, recognizing their lifelong commitments to advancing civil rights.

The convention also offered practical workshops, including “What’s On Your Ballot?,” where coalition leaders provided analyses of California propositions, explaining their potential impacts on community rights and resources. The Voter Turnout Workshop provided background and encouraged participants to promote voter turnout through community-centered outreach strategies.

Sunday’s events closed with a Prayer and Memorial Breakfast honoring the contributions of past and current civil rights leaders.