April 19th 2024.
Let's take a moment to consider a thought-provoking perspective: the recent rise in unemployment for Black Americans may be due to a surge in anti-diversity, equity and inclusion (DEI) initiatives, particularly in the education and corporate sectors.
According to a newly released report from Creative Investment Research, the increase in joblessness among Blacks nationwide in March 2024 could be linked to specific incidents that highlight the impact of anti-DEI measures on Black employment. The report's author, economist William Michael Cunningham, shared his analysis with BLACK ENTERPRISE, shedding light on the stability of the unemployment rate for whites, which remained between 3.1% and 3.5% from January 2023 to March 2024.
In contrast, Cunningham noted that for Blacks, the rate rose from 5.4% to 5.8% in November 2023 before dropping to 5.2% in December 2023, but then spiked to 6.4% in March 2024. He also pointed out that the unemployment rate among Asians was consistently lower, with a rate of 3.5% in November 2023 and 2.5% in March 2024. And for Hispanics, the rate declined from 5% in December 2023 to 4.5% in March 2024.
Cunningham emphasized that the preferential hiring of Asian and Hispanic individuals over Black individuals is a contributing factor to the rising unemployment rate for Blacks, as well as the stability and decrease in rates for Whites, Asians, and Hispanics. "We attribute this to systemic biases and the increasing trend of anti-Black hiring practices, which can be partially attributed to recent anti-DEI efforts," he explained to BLACK ENTERPRISE.
The economist also highlighted some concerning developments in recent months. He pointed out that the University of Texas announced significant job cuts targeting DEI, resulting in the loss of 100 positions, a move that has been replicated by other educational institutions across the country. At the same time, major corporations such as Meta, Tesla, Door Dash, Lyft, Home Depot, Wayfair, and X have downsized their DEI teams, and companies like Google, Zoom, and Snap have either reduced or outsourced their DEI efforts.
Cunningham believes that these actions demonstrate a clear correlation between the reduction of DEI roles and the increase in Black unemployment. However, he also shared some positive news - there has been an uptick in the Black labor participation rate, indicating that more Black individuals are actively seeking employment. This trend suggests that despite the challenges posed by anti-DEI efforts, Black job seekers are resilient and determined to find work.
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