July 12th 2023.
As the world slowly recovers from the pandemic, the unemployment rate for Black workers is increasing. According to Kate Bahn from the Urban Institute, the current unemployment rate for Blacks is 6%. Despite the economic recovery, Black workers have not bounced back as successfully as other groups.
The stark reality is that the pandemic has hit Black workers the hardest. BLACK ENTERPRISE reported that for every dollar a white man makes, Black men earn 77 cents, and their Black female counterparts earn 68 cents. This is a result of systemic barriers in the workforce, which is why Bahn believes it is necessary to have institutional change to ensure Black workers are on the same footing as white workers.
The Black employment rate is closer than ever to that of whites. Bahn told NPR there is only a half percentage point difference between Black and white employment rates. Additionally, labor force participation for Black workers is higher than that of white workers.
Bahn believes the solution to the increasing unemployment rate for Blacks requires both market forces and institutional changes. She noted that while there are positive employment outcomes, there is still a need for policy change.
It is important to remember that a two-month increase in unemployment for Blacks is not enough to label it a trend. For true and lasting change to occur, Bahn believes that institutional changes are essential to ensure Black workers can share in the gains of the economy.
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