Massive Credit Card Debt Threatens the African American Middle Class

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WASHINGTON – Middleclass Blacks are using credit to help cover their basic living expenses, according to a report from the NAACP and public policy research organization, Demos. In the recession’s aftermath, 79 percent of middleclass African-American households carry credit card debt. “Everybody needs credit but it should be a tool to help your economic life” […]

The Black Unemployment Rate Drops for All the Wrong Reasons

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WASHINGTON – There wasn’t much good news for any of the worker groups in the March jobs report, released last Friday. Even though, the unemployment rate fell to 7.6 percent, most economists agree that the drop is attributable to nearly half a million workers exiting the labor force. “The unemployment numbers look good on the […]

Jobs Report Shows Steady, But Slow Growth

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WASHINGTON – Voters were still waiting to elect the next president of the United States when the Labor Department’s monthly jobs report, issued four days before the election, provided a glimpse into what the American economy might look like over the next four years. The unemployment rate increased from 7.8 percent in September to 7.9 […]

Bad Economy, Good President: Poll Finds 86% Of Blacks Give Obama Favorable Rating

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LOS ANGELES – With many citing the economy as the most important issue for the 2012 presidential election, Loop21.com, a leading digital source of emergent Black culture, and a coalition of top black civic, entertainment and media organizations, conducted The State of the Black Economy (SOBE) survey, a study of African American public opinion on […]

Homeowner Bill of Rights Passes California Assembly

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SACRAMENTO – California’s State Legislature voted today to pass the Homeowner Bill of Rights, legislation introduced by Attorney General Kamala Harris and championed by consumer advocates and homeowners. The California Foreclosure Reduction Act— AB 278 (Eng, Feuer, Mitchell) & SB 900 (Leno, Corbett, DeSaulnier, Evans, Pavley, Steinberg)—passed 53-25 in the Assembly and 24-13 in the […]

Blacks Still Shoulder Weight of High Unemployment

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WASHINGTON – Despite reports of a rebounding economy, joblessness among Africa Americans – like gas prices — have continued to dip, then escalate. According to the latest U. S. Labor Department findings, as of February 2012 the unemployment rate for blacks hovered at 14.1 percent compared to 13.6 for January, and 15.8 percent the month […]

Attitudes on Economic Issues All Show Positive Trend

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NEW YORK – The economy and jobs continue to be two of the more important issues driving the national political debate. But the general feeling about how things are going seems to be getting better according to a number of different indicators. First, looking at President Obama’s handling of the economy, one-third of Americans (32%) […]