Women And Minorities Hardest Hit
The New York Times is reporting that more than half of all black New Yorkers are now unemployed, and that they remain unemployed for a year on average after losing their jobs. Meanwhile, the number of “discouraged workers”—people who give up looking for work after a long period of unemployment—has risen to 40,000 among blacks, much higher than it stood at the beginning of the recession and nearly twice the rate for whites.
Numerous businesses have reported payroll increases, and important professional industries like law and accounting are beginning to recover. Blacks, however, have been largely left out of this recovery—including college-educated blacks, who in many cases have been forced to settle for jobs well below their qualifications: