Written by Kansas City Sta
African American unemployment rate now at 15%.
While unemployment for the nation hovers well over 9 percent, for African-Americans, unemployment is estimated at 15 percent.
In recognizing Labor Day, Solis did a telephone interview with members of the Trotter Group, a group of black columnists from across the nation. Solis used the occasion to provide a sort of state of the economy.
“For young people and especially people of regions of the country hardest hit by the recession, and especially people of color, as you know, the unemployment rate is much higher,” Solis said. “And I am very concerned about that. To me, it’s unacceptable. In some communities, it goes as high as 25 to 30 and even as high as 40 percent.”
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In 2007, there were 27.1M nonfarm U.S. businesses, employing 117.3M persons and generating $30.0T in business revenues. Firms with paid employees accounted for 5.7M or 21.2% of these businesses & $29.1 trillion or 96.8% in receipts. Firms w/o employees accounted for 21.4M or 78.8% of these businesses and $972.7 billion or 3.2% in receipts.
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