NYT: Blacks, Young Women Left Out of Obama Recovery
Recovery "leaving behind major Democratic constituencies."
| Albert Merrick |
The Obama recovery, while a boon to upper income brackets, is "leaving behind major Democratic constituencies," according to an article in the New York Times published Tuesday.
The article notes that, despite the decrease in unemployment rates for women and blacks, the actual percentage of the population for each demographic is either relatively stagnant or lower than when President Obama took office.
Women, for example, supposedly enjoy a 5.7 percent unemployment rate, down from 8.1 in 2010. But as the Times notes, that number doesn't reflect an uptick in the employment of the country's female workforce:
“But while the number of women out of work appears to be much improved, the number of women employed compared with the total female population is 55.2 percent, actually worse than it was in October 2010. Progress, in fact, is a mirage, the product of what economists call the disappearing work force: people giving up and dropping out.
Similarly, blacks have seen a more than 4 point drop in their unemployment rate, down to 11.6 percent since 2010. But the percentage of blacks in the workforce "has barely moved," up only 1.4 points to 53.8 percent of the population.
Racial composition aside, the country's wealthy, while demonized at times by progressives, have seen their pre-tax income increase over 30 percent over the same time frame. That's more than 77 times the increase of the rest of the country, whose income has increased only .4 percent. http://www.truthrevolt.org/news/nyt-blacks-young-women-left-out-obama-recovery