U.S. Economy From a Black Women’s Perspective
Why do Black women not see returns on their contributions to the U.S. economy? Huge disparities are still evident. They are undervalued and under compensated despite all their educational, performance and political effort.
Black Women are the:
- Biggest spenders of any other segment
- Most active group for voting in the U.S
- Only group
- That has no political initiatives to support their progress
- With a higher labor force participation than men
- See their median annual earnings decline by 5%
The average black woman has only $5 in savings. The average corporate black woman has $250 in savings. Other segment groups on average have $10,000 in savings.
Statistical information (based on info from 2004 – 2014) on Black Women:
- Earned a median annual average of $53k which is 64% of white men’s earnings
- Those with a bachelor or higher degree increased by 23.9% which represents the second-largest improvement group
- Have the
- Highest rate of heart disease mortality rate
- Second highest lung cancer mortality rate
- Highest breast cancer mortality rate
- Suffer the most violence from a partner
- Are four times more likely to be incarcerated
- Highest voting rate than any other group during presidential elections
- Issues are underrepresented at every level of federal and state political office
Black women must support each other to persuade others to see value in supporting them.
Black women will only matter when they matter to other black women. As a group, we must stop investing in the businesses and profitability of people, products, and services that aren’t supportive of our progress and success. How would you suggest we hold corporations, politicians, and businesses accountable for how they reciprocate in support of federal and state political issues that impact our group as a whole?
We must put on our life preservers first.
We can’t just focus on our families and children. We need programs that focus on our success as adult women. Black Women must mentor, support, and advocate for each other and insist that others value our hard work as a group, versus a select group within our segment.
Our dollars and skills add tremendous value to the U.S. economy, and it’s up to us to demand payment for our efforts.
I’d love to hear from you. What is holding black women back from your perspective, other than access to capital? What do you think is a viable solution to the challenge?