NEWS
Black Middle Class at Risk
By: Alyssa
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Tue, 12/01/2009 - 09:05
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High unemployment, partly due to the loss in manufacturing jobs, threatens the economic progress Black families have made in reaching the middle class, MSNBC reports.
Service sector and manufacturing jobs provided decent salaries, health insurance and retirement plans for many workers, giving them the opportunity to buy homes and send their children to college. But layoffs and reduced hours put those advances at risk, which disproportionately impacts Black workers.
The decrease in poverty rates for Black families that occurred through the mid-1980s and 1990s has reversed in this downturn, with the poverty rate for Blacks reaching nearly 25 percent in 2008, nearly double the rate for the population as a whole.
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