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ERIC Number: EJ869087
Record Type: Journal
Publication Date: 2009-Oct-29
Pages: 3
Abstractor: ERIC
Reference Count: N/A
ISSN: ISSN-1557-5411
Economic Blues
Stuart, Reginald
Diverse: Issues in Higher Education, v26 n19 p8-10 Oct 2009
Today, a national economy gone bust has derailed Black Americans' plans across the country. Gone are many of the economic gains, small as they were, achieved in the post-segregation era by millions of 1960s generation children and their children. Black America today is beset by job losses, business closures, pay cuts, furloughs, investment and savings losses, nose-diving home values and losses of homes and cars. As important, the economic shakeout has redefined the landscape ahead, as established ways of getting ahead--undergraduate and graduate degrees--and the infrastructure that nurtured it--affirmative action and diversity programs--have been turned on their heads. Thousands of high-income, white-collar jobs in the services industries, foundations and education have been eliminated. Diversity programs have been moved down the priority list of many employers. The gains of a whole era and the optimism that fed it have vanished. The economic slump is hitting people in different ways. Still, for all but a few of the wealthiest Black Americans, most are telling grim stories that illuminate the daily drum of aggregate numbers about double-digit unemployment, declining purchasing power, depleted savings and home foreclosures. They also tell a story of a determination to work through it.
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: California; Maryland; Michigan