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Black Women Face Economic Crisis: 600k Sidelined
23 Nov
Summary
- Nearly 600,000 Black women are economically sidelined.
- Black women's real unemployment rate is 10.23%.
- Job gains for Black women are in low-wage sectors.
A significant economic crisis is impacting Black women, with nearly 600,000 being economically sidelined since February. This situation encompasses job losses, continued unemployment, and forced exits from the labor force, collectively representing billions in lost GDP.
The data reveals a stark contrast as men re-enter the labor market, while Black women experience widening pay gaps and are increasingly concentrated in lower-wage sectors like health care and social assistance. This trend is not a temporary downturn but a structural divide.
Addressing this requires targeted solutions, including enforcing pay equity, rebuilding inclusive job pipelines into higher-wage industries, and reforming Federal Reserve models. Ignoring the "Exit Economy" risks further economic instability for households and the nation.
