Business

Black Women Face Challenges in Building Wealth

Published

10 years ago

April 7, 2015

By Jazelle Hunt
NNPA Washington Correspondent

WASHINGTON (NNPA) – Black women are the only group that has not recovered the jobs they lost in the recession. Five years into national recovery, the unemployment rate for Black women has even risen a little since December, from 8.2 percent to 9.2 percent.

On the flip side, employment brings its own unique difficulties for Black women, too.

According to a new report commissioned by Essence magazine, 80 percent of Black women surveyed believed that they could not advance in their careers without altering aspects of their identities. Additionally, 57 percent believed that they had to “look a certain way” to be promoted, compared to 39 percent of White women who thought similarly.

And while Black women are more optimistic, ambitious, and self-confident in their careers than their White counterparts, they are much more likely to say they are different at home than they are at work.

“…[T]he additional hurdle of real or perceived stereotypes complicates the work experience. The conversation around work/life balance for Black women also impacted by the reality of pay inequities and higher levels of unemployment in our communities which may necessitate working multiple jobs to make ends meet,” says Essence editor-in-chief Vanessa K. De Luca.

“We know that African-American women are three times as likely to be head of household in comparison to the general population, therefore success at work is both a personal and an economic priority.”

One thing that holds true for Black is the challenge of building wealth.

The median wealth, or net worth, among single Black women is just $100; and if they are raising minors they have no wealth at all, according to a recent analysis of data from the federal Survey of Consumer Finances. In fact, nearly half of all households headed by a single Black woman in 2007 had zero or negative wealth.

The median wealth among single White women is $41,500 and only climbs as they age. Meanwhile, 1 in 4 Black women over the age of 65 who receives Social Security benefits rely on it as their only source of income.

“Wealth is something like a security package,” says William Darity, economics professor at Duke University, speaking on a panel sponsored by the African American Policy Foundation (AAPF). “For those who lack wealth, they find themselves in precarious, vulnerable situations…and those faced by Black women are perhaps more severe.”

Recession job losses hit Black women especially hard, since most of the downsizing took place in the service and public sectors where Black women are overrepresented. Additionally, wages have stagnated as the cost of living continues to rise, from housing to childcare to education.

Even if wages had been growing, the wage gap persists – and not even education can bridge the chasm. Consider: Black women with master’s degrees earn slightly less than Black men with bachelor’s, and White men, Asians, and Latinos with associates or post-secondary degrees, according to data from the 2013 Census Current Population Survey.

And even without the gap, wages alone are not enough to build wealth.

“The major way in which people acquire significant wealth in this country is through inheritances or gifts,” Darity says. “When people say Black people are somehow inferior, or are doing something wrong as to why they don’t have wealth, that is completely wrong.”

Alternatively, wealth can be generated through strategic investments, such as land ownership, stock, appreciating valuables (such as wines and collectibles), and even creating or backing successful start-ups. Black people tend to have poor access to these avenues. Wage disparities do not leave much disposable income for these options, and traditional lenders are notoriously predatory and/or discriminatory to Black people seeking funding.

A high net worth offers cushion from unexpected emergencies, and allows families to rely less on individual paychecks for financial stability. Because of this, social safety net programs are often the only thing keeping middle- and lower-class Black families from sliding into destitution when living check-to-check fails.

“The cruelty is… in these same policies that purport to help,” says George Lipsitz, chair of the AAPF board and board member of the National Fair Housing Alliance, also speaking on the panel. “They prosecute Black women for their poverty…deprive them of their parental rights, and it’s all made possible by the litany that people who have problems are the problem.”

As justice movements bubble up around the country, issues affecting Black women are gaining more attention. With recent reports such as “Black Girls Matter: Pushed Out, Overpoliced, and Underprotected”; “Black Women in the United States, 2015”; and “In Our Own Voice: Black Women on Abortion, Contraception and Reproductive Justice,” researchers are laying the tracks for change with conclusive, targeted data.

“We have to challenge the narrative that because we have historically overcome obstacles, there is no need to remove these obstacles,” says Janine Jackson, program director for Fairness & Accuracy In Reporting and moderator of the AAPF panel. “We have to figure out, what would a new economic agenda that addresses these obstacles look like?”

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‘Jim Crow Was and Remains Real in Alameda County (and) It Is What We Are Challenging and Trying to Fix Every Day,’ Says D.A. Pamela Price

“The legacy of Jim Crow is not just a legacy in Alameda County. It’s real. It is what is happening and how (the system is) operating, and that is what we are challenging and trying to fix every day,” said D.A. Price, speaking to the Oakland Post by telephone for over an hour last Saturday. “Racial disparities in this county have never been effectively eliminated, and we are applying and training our lawyers on the (state’s) Racial Justice Act, and we’re implementing it in Alameda County every day,” she said.

Published

3 hours ago

November 2, 2024

Oakland Post

Exclusive interview with County D.A. Price days before recall election. Photo by Ken Epstein.

By Ken Epstein

Part One

Alameda County District Attorney Pamela Price gave an exclusive in-depth interview, speaking with the Oakland Post about the continuing legacy of Jim Crow injustice that she is working to overturn and her major achievements, including:

restoring and expanding services for victims of crime,
finding funding for an alternative to incarceration and/or prosecution for substance use and mental health-related misdemeanors and
aggressively prosecuting corporations for toxic pollution and consumer violations.

“Racial disparities in this county have never been effectively eliminated, and we are applying and training our lawyers on the (state’s) Racial Justice Act, and we’re implementing it in Alameda County every day,” she said.

Passed by the State Legislature, this law “is an extremely helpful tool for us to address the racial disparities that continue to exist in our system,” she said.

(The law addresses) “the racial disparities that we find in our juvenile justice system, where 86% of all felony juvenile arrests in the county are Black or Brown children.

“We trained the entire workforce on the Racial Justice Act. We are creating a data system that will allow us to look at the trends and to clearly identify where racism has infected the process. We know that where law enforcement is still engaging in racial profiling and unfair targeting and arresting, we’re trying to make sure we’re catching that.”

Many people do not know much about the magnitude of Alameda County District Attorney’s job. Her office is a sprawling organization with 10 offices serving 1.6 million people living in 14 cities and six unincorporated areas, with a budget this year of about $104 million.

Asked about her major achievements since she took office last year, she is especially proud of the expanded and renewed victims’ services division in the DA’s Office, she said.

“We have expanded and reorganized the entire claims division so that we are now expediting as much as possible the benefits that victims are entitled to. Under my predecessor, they were having to wait anywhere, sometimes as long as a year, to 400 days to get benefits.

“Claims had been denied that should not have been denied. So, we’re helping people file appeals on claims that were denied under her tenure,” D.A. Price said.

“Under my predecessor, (the victims’ service office) was staffed by people who were not trained to provide trauma-informed services to victims, and yet they were the only people that the victims were in contact with. We immediately stopped that practice,” she continued.

“We had to expand the advocate workforce to include people who speak Hmong, the indigenous language of so many people in this county who are victims of crime.”

More African Americans advocates were hired because they represent the largest percentage of crime victims and we hired a transgender advocate and advocates who speak Cantonese and Mandarin. “The predominantly Chinese American community in Oakland was not being served by advocates who speak the language,” said D Price

“We reduced the lag time from the delivery of benefits to victims from 300 to 400 days down to less than 60 days.”

She increased victim advocacy by 38%, providing critical support to over 22,500 victims, a key component of community safety.

Other major achievements:

She recently filed 12 felony charges against a man accused of multiple armed robberies, demonstrating her seriousness about prosecuting violent crimes
In October, a jury delivered a guilty verdict in the double murder trial of former Alameda County Sheriff’s Deputy Devin Williams, showing DA Price’s commitment to holding law enforcement accountable.
She recently charged a man and woman in unincorporated San Leandro with murder, felony unlawful firearm activity, and felony carrying a loaded firearm in public.
A. Price’s office was awarded a $6 million grant by the state for its CARES Navigation Center diversion program. In partnership with the UnCuffed Project at a Seventh Day Adventist Church in Oakland, the program provides resources and referrals for services to residents as an alternative to incarceration and/or prosecution for substance use and mental health-related misdemeanors.

“This is the largest grant investment in the history of the Alameda County District Attorney’s Office,” said D.A. Price.

She explained that the program now has a mobile unit. “We have washers and dryers. We have a living room. We have a television. It’s a place where people can decompress, get themselves stabilized,” she said.

The project has “the ability to refer people to housing, to more long-term mental health services, to social services, and to assist them in other ways.”

Her office joined in a $49 million statewide settlement with Kaiser Health Plan and Hospitals, resolving allegations that the healthcare provider unlawfully disposed of hazardous waste, medical waste, and protected health information. The settlement, which involved the state and a half dozen counties, resulted in Alameda County receiving $7 million for its residents.
DA Price charged a former trucking company employee for embezzling over $4.3 million, showing her commitment to tackling white-collar crime.
For the first time, Alameda County won a criminal grand jury indictment of a major corporation with two corporate officers that have been sources of pollution. “They had a record of settlements and pollution in this community, and they had a fire that constituted a grave danger,” she said.

Attorney Walter Riley contributed to this article.

See Part Two

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Oakland Post: Week of October 30 – November 5, 2024

The printed Weekly Edition of the Oakland Post: Week of October 30 – November 5, 2024

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1 day ago

November 1, 2024

Oakland Post

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Business

Chevron Reports Progress in Flaring, Emissions at Community Town Hall

At the first in a series of community town halls on Oct. 16, Chevron Richmond reported a reduction in year-over-year flaring incidents, both in number and duration, and detailed new technologies and processes that will further drive down emissions and heighten community awareness about operations. Chevron employees also answered questions from the community and listened to concerns at the town hall, which was hosted by Ceres Policy Research and held at CoBiz in downtown Richmond.

Published

5 days ago

October 28, 2024

Oakland Post

Community member Kathleen Sullivan speaks at the Chevron town hall. Photo courtesy Richmond Standard.

By Mike Aldax

The Richmond Standard

Chevron employees also answered questions from the community and listened to concerns at the town hall, which was hosted by Ceres Policy Research and held at CoBiz in downtown Richmond.

Similar town halls will be held twice per year over the next five years as part of a settlement agreement with the Bay Area Air Quality Management District (BAAQMD).

The goal is to increase transparency about flaring and increase opportunities for the community to get answers to their questions about potential impacts to the community.

A key output is the creation of a Community Action Plan, or CAP. The CAP aims to create a two-way dialogue between Chevron and neighbors around flaring and environmental compliance.

“Chevron’s focus in this process is one of learning and engagement,” said Brian Hubinger, public affairs manager at Chevron Richmond. “We felt the most efficient way was to bring together a broad selection of community members rather than just think about what it would take to comply with the settlement agreement.”

The first town hall drew a few dozen members of the community, including Chevron employees, representatives of fence-line neighborhoods and members of local environmental organizations.

During the event, Chevron employees reported that 19 BAAQMD-reportable flaring incidents occurred at the refinery from October 2022 to September 2023 with a total duration of 270 hours. During the same period this year, 18 flaring incidents occurred with a total duration of 159 hours, marking a 41% decrease in duration.

Further gains are expected with the implementation of Flare IQ, set to be installed this year and next on all of the refinery’s flaring systems. Flare IQ is described as a supercomputer with an algorithm that gathers data from operations and enables employees to address potential issues before they occur.

Chevron also reported a 40% decrease in particulate matter emissions since the completion of the refinery modernization project in 2018.

In addition, flare gas volume related to Chevron’s new hydrogen plant project, built as part of the modernization project, decreased by 85% since 2019. The hydrogen plant has also reportedly made the refinery 20% more efficient.

“We’re really proud about that,” said Kris Battleson, manager of health, safety and environment at Chevon Richmond.

Neighborhood council leaders joined the president of the local NAACP in lauding the effort toward transparency and accountability. Among them was Vernon Whitmore, president of the Sante Fe Neighborhood Council and member of the 15-person CAP committee.

“The way we were able to talk openly and freely with Chevron – honestly, bluntly and frankly – while developing this program was very good,” Whitmore said. “And it was something that was well-needed at this time.”

Still, residents are skeptical, including Kathleen Sullivan, a longtime community advocate who also serves on the CAP committee. But she added, “you can’t complain about something and not be involved in the solution.”