Tag Archives: Economics

Black Unemployment Shows Modest Improvement in May

By Free Radical

Black unemployment dropped to 7.5% during the month of May.

Black unemployment dropped to 7.5% during the month of May.

According to the Bureau of Labor Statistics, Black unemployment dropped 0.4% in May to 7.5%. This is one of the largest drops in the last year. It had only dipped 0.1% for the months of March and April.

These figures reflect larger employment trends as the total number of jobs added in May was 138,000. The national and White unemployment rates were both reduced last month by 0.1% in May to 4.3% and 3.7% respectively.

Along with unemployment, underemployment, also dropped. In May, it dipped from 8.6% to 8.4%. Underemployed tracks individuals who would like to work full-time but are

New Study: Black Women’s Status Exposes American Dream as Myth

By Free Radical

Despite increases in educational attainment and entrepreneurship, Black women still lag behind other groups in key socioeconomic statistical areas.

Despite increases in educational attainment and entrepreneurship, Black women still lag behind other groups in key socioeconomic statistical areas.

On average, Black women are doing the right thing. And by right, they are doing all of the things that most economists, sociologists, political scientists, etc. say one must do to become successful in the country. Nonetheless, they have not been rewarded for the strides they have made according to the new study, “The Status of Black Women in the United States” conducted by the Institute for Women’s Policy Research, a nonprofit organization affiliated with George Washington University. The findings were published by the National Domestic Workers Alliance.

The report shows that though 6 in 10 Black women are in the workforce, between 2004 and 2014 Black women working full-time jobs had median annual earnings that were 64.6% of White men.

Though the number of Black women owned businesses rose 178% between 2002 and 2012 (the largest among all racial groups), Black women had

Homeownership Maintains Decades Old American Inequality

By Free Radical

econpic (3)When thinking of “entitlement” programs, many people immediately think of food stamps, social security, or possibly Medicaid. A recently published nytimes.com long form article by Pulitzer Prize winning writer Matthew Desmond, argues that one of the largest forms of government aid does not go to the poor, but rather to middle class and wealthier homeowners.

The mortgage interest deduction, or MID, allows homeowners to deduct mortgage interest on their first and second homes. In 2015, a whopping $71 billion was spent on the MID alone, making up more than half of all federal homeowner subsidies which totaled $134 billion.

Desmond argues that the MID policy exacerbates inequality in the US. Because tax deductions are

MO Shifts Medicaid Patients to Private Sector

By Free Radical

Nearly 240,000 Missouri state Medicaid patients were moved to private sector companies last week.

Nearly 240,000 Missouri state Medicaid patients were moved to private sector companies last week.

Last week, Missouri transferred nearly 240,000 of its state-provided Medicaid program to private insurance companies. The new program, MOHealthNet requires individuals who are not elderly, disabled or blind to use one of three private sector businesses: WellCare, United Health Group, or Centene Corporation.

The program was offered to only 54 Missouri counties previously. Now it is offered throughout the entire state.

The program’s supporters argue that it is more cost-effective as the state pays one of the three insurance companies a flat fee for each patient. Prior to the program’s implementation, the state paid for