Program Note: In the next installment of CNN’s Black in America series, Soledad O’Brien examines the successes, struggles and complex issues faced by black men, women and families, 40 years after the death of the Dr. Martin Luther King Jr. Watch encore presentation Saturday & Sunday, 8 p.m. ET
We devote several days on the blog to smart insight and commentary related to the special.
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CNN Business News Correspondent
When I set out to do a story on the effect recessions have on black Americans, I was prepared for some dire statistics. I wasn’t pleasantly surprised. Here’s my biggest takeaway: as the unemployment rate increases for the population overall in a recession, the increase among blacks is roughly double. And when a recession hits, blacks take longer to regain employment after the economy recovers.
As if that isn’t bad enough, it was what I learned about younger black Americans that really left an impact. According to John Schmitt of the Center for Economic and Policy Research, the unemployment rate for black teens is about twice that of white teens. In the recession that lasted from 1980 into 1982 – the black teen unemployment rate skyrocketed to 50 percent. Keep reading
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