The unemployment situation across America is bad, no
doubt. But for African-Americans in some cities, this is not
the great recession. It’s the Great Depression.
Take Charlotte, N.C., for example. It is a jewel of the
“new South.” The largest financial center outside of
New York City, it's the showcase for next year’s
Democratic National Convention. It was a land of hope
and opportunity for many blacks with a four-year
college degree or higher.
According to an analysis by the Economic Policy
Institute, in Charlotte, N.C., the unemployment rate for
African-Americans is 19.2 percent. If you add in people
who have given up looking for jobs, that number
exceeds 20 percent, which, according to economists
Algernon Austin and William Darity, has effectively
mired blacks in a depression.
“You’re looking at a community that is economically
depressed in my opinion,” Austin said. “And we need
action that will address that scale of joblessness.”
