African American economic growth
- Thesis statement.
- Discussion on African American economic growth.
- Employment and income.
African American community as far as the 1960s has maintained a rich tradition of philanthropy due to the challenges the community faced in the past decades. The resources that contributed to the philanthropic activities include the mutual aid organizations, churches, major political organizations and the government itself. All these organizations and their efforts aimed at humanitarian aid, institutional development and commercial enterprise for the African American communities. The efforts had been towards "social change from the abolition of slavery to the elimination of all legal, educational, and economic barriers to racial equality." (Ball 2003) The road to the development of the African American men, community, business, industry, business affairs and political environment strived with hurdles from all sides.
[...] Source: US Census Bureau One notes that when compared to other races African American and white American incomes have remained relatively stagnant in the past four years (see table). In fact the income has increased for the black though negligible as compared to the white population. According to the Federal Reserve Board's Survey of Consumer Finance (SCF) there is a "striking pattern of growth in family income and net worth between 1998 and 2001. Inflation adjusted incomes of families rose broadly, although growth was fastest among the group of families whose income was higher than the median." Yet poverty among whites in 2003 has been 8.2 percent while for blacks the rate shows 24.4 percent. [...]
[...] With this change in the business and economic environment the African American community was bound to be affected in other dimensions such as employment, income and education etc. Employment and income Overall the median household income for most race groups between 2002 and 2003 remained unchanged according to the US Bureau of Census. However the African American household had one of the lowest median incomes of about $30,000 for the year 2003. Compared to the non-Hispanic white household of $48,000 and Asian $ 55,000 the black household is still economically backward (DeNavas-Walt, Proctor and Mills 2004). [...]
[...] In the black's struggle for social and economic growth the federal government had been the only ally on their side. With the civil rights legislation passed in the 1960s and 1970s organizations like SNCC (Student Non-Violent Coordinating Committee), CORE (Congress on Racial Equality) and Welfare Rights Organization started to pressurize white institutions to transcend the relevancy of black demands for better housing, education and employment across the nation. Their attempts for economic uplift of the black community proliferated to the North and South. [...]