African American Investors are Down, but Not Out
Middle-class African Americans are more likely than whites to have cut back on saving and investing in order to make it through the recession, according to the 2010 Ariel Black Investor Survey. The data is not unexpected since the unemployment rate for African Americans (15.4%) continues to track higher than the overall jobless rate for all Americans (9.5%). “In times of economic hardship, people have to make difficult decisions,†said Mellody Hobson, Ariel president and columnist for Black Enterprise magazine. “Unfortunately, the resulting trade-offs mean many in our community are slipping even further behind.â€
MORE ON BlackEnterprise.com
