Friday
Jan142011
Report: Austerity Policies Worsen Racial Economic Inequalities, Hit Blacks and Latinos Hardest
January 14, 2011 BOSTON -- The official unemployment rate is 15.8 percent among Blacks and 13 percent among Latinos; Blacks earn only 57 cents for each dollar of White family income, Latinos earn 59 cents; and Blacks have only 10 cents of net wealth while Latinos have 12 cents to every dollar of net wealth that Whites have. As documented in the "State of the Dream 2011: Austerity for Whom?," this is the precarious state in which Blacks and Latinos find themselves as the nation, still struggling amidst the Great Recession, remembers the life of Dr. Martin Luther King Jr. who was gunned down while leading the Poor People's Campaign in 1968.