The 2007 housing crisis was particularly tough on African-Americans, as well as Hispanics, extinguishing much of their already miniscule wealth. Industrial layoffs, particularly in the Midwest, made things worse.
However the rising economic tide of the past few years has started to lift more boats. The African-American unemployment rate fell to 6.8% in December, the lowest level since the government started keeping tabs in 1972. Although that’s 3.1 percentage points worse than whites, the gap is the slimmest on record. A tightening labor market since 2015 has also driven up wages of black workers, many of whom are employed in manufacturing and other historically middle and lower-wage service industries.
Black unemployment fell to 6.8 percent in December, the lowest ever recorded by the U.S. Labor Department since it began tracking the black unemployment rate in 1972.
Economists say it's a sign the recovery from the Great Recession is finally starting to help a wider swath of the U.S. population.
Freezing temperatures in the U.S. Northeast have pushed up heating costs, creating serious stress for many Americans. Although the rich world’s energy poor are largely forgotten in discussions about climate policies, they bear an unfair burden for well-meaning proposals.
That reality is being laid bare this icy winter as energy and electricity prices surge. When we think about energy poverty, we imagine a lack of light in the world’s worst-off nations, where more than one billion people still lack electricity.
Sacramento is largely drawing residents from the California coast, especially Los Angeles and the Bay Area, according to separate U.S. Census Bureau figures for the 2016 calendar year. The three counties sending the most residents to the Sacramento region in 2016 were Los Angeles, Alameda and Santa Clara. Housing costs are likely behind a lot of the moves. It is much cheaper to live in Sacramento than it is to live in Los Angeles or the Bay Area.
These trends also pose serious issues for the state’s economy, such as a decline in the working-age population. With unemployment rates now at a historic low, economists universally see shortages of trained and trainable labor as the greatest impediment to continued economic growth in California.