Rubber & Steel Cufflinks - Newest
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The fear is that will repeat itself, and that after outsized gains during the upswing, relatively more black workers will lose their jobs when leaner times arrive. That is what happened during the last recession, when white unemployment peaked at just over 9 percent while black unemployment shot above 16 percent. As a result, past recoveries have done little to narrow the gap between black and white incomes, as numerous studies, including recent work by the Atlanta Federal Reserve, have documented.
Nationally, median incomes for black families remain a third below white household incomes, In Memphis the gap is even larger, with a $31,000 median annual income for blacks representing just 54 percent of that of white families, “It is a good thing that African American unemployment is at a very low level,” Fed chair Jerome Powell said at a meeting with community groups rubber & steel cufflinks in Houston this month, “(But) if you look at what happens in a downturn you see the last people hired are the first to get fired,” he said..
For that to change, workers such as Harwell need enough time to pay off student loans, get a raise or two, start saving for a home, and gain the additional skills and seniority needed to keep working through the next recession. “This isn’t a job anymore, it is a career..Personally, I say I need two years,” to feel economically stable, Harwell said. With the U.S. recovery pushing a decade and some signs of a growth slowdown ahead, local social service agencies and state officials say the time for “recession-proofing” is now.
“We know it is not going to last forever,” said Deniece Thomas, an assistant commissioner at rubber & steel cufflinks the Tennessee Department of Labor and Workforce Development, “There is a sense of urgency,” for workers to assess what skills their employers will need even if business slows, she said, To help them, the state has made community college free for high school graduates and adults who have not previously earned a degree, one of the most expansive efforts in the country to encourage non-college educated adults to improve their skills, Other programs provide certifications for specific jobs in industries, such as the booming medical device field, that are struggling with labor shortages..
A look behind the headline numbers shows there is still ground to cover. The black unemployment rate far outstrips the national average, now at 3.7 percent, and since reaching that record low in May has crept up to 6 percent and above even as white unemployment keeps edging lower. Other gauges, such as the employment to population ratio, also lag. Reuters analysis of the federal Quarterly Workforce Indicators shows that out of five U.S. industry groups where the share of jobs held by blacks grew the most between 2010 and 2017, three were among those that paid the least. Three of those five were also among the industries that shed the most jobs during the last recession. The QWI tracks 19 industry groups.
Still, the gains are real, Overall black employment has soared by nearly a third since the crisis-era lows of late 2009, compared to a 6 percent increase in the number of jobs held by white workers, according to federal data, Blacks’ share of employment has also been catching up with their share of the U.S, working age population, and the gap is now at a record low, In Memphis, where 63 percent of the population is black and more than a quarter lives rubber & steel cufflinks in poverty compared with a 14 percent national average, there is some optimism that there may be more than just a cyclical upturn at work..
E-COMMERCE WINDFALL. The city has long been politically and culturally important as a battleground of the 1960s civil rights movement, the site of Martin Luther King Jr.’s assassination, and a cornerstone of American music where the careers of Elvis Presley, B.B. King and Otis Redding took off. Now, it is also making its name as a major logistics hub, a fulcrum of the internet economy that hosts FedEx’s global headquarters and the country’s busiest cargo airport.The e-commerce boom “is a game changer for us..Memphis is a poor city but logistics is a way for a lot of minorities to pull themselves into jobs,” said Neil Harris, president of the Prestigious Placements recruiting and hiring firm.
The firm has more than 2,000 workers placed around Memphis area warehouses and other facilities, Harris said that firms were so keen to fill vacancies that they were relaxing demands for prior experience, raising pay, offering more training, and becoming more flexible in scheduling, FedEx’s presence has led others to rubber & steel cufflinks invest in this corner of western Tennessee, including Amazon.com Inc (AMZN.O) , which is expected to hire 1,500 for distribution facilities near Memphis, along with 5,000 at the facility it announced in Nashville earlier this month..