Comment and analysis on all things Charlotte

Fox News: Charlotte a Perfect Example of the Economic Great Depression Blacks Are Living Through

Fox News national discovers what I’ve been talking about for a long time. Charlotte is an economic Armageddon for African-Americans, with a black unemployment rate over 20 percent.

As Fox alludes, that makes it ironic that the Democrats want to showcase the city and the state by hosting the Democratic National Convention here:

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.”

Not exactly the ringing endorsement Charlotte was looking to get out of the DNC. But as the convention gets closer, Charlotte will get its wish for more scrutiny.

Journalists nationally may begin to report things we’d never be told locally, like that the number of people employed in Charlotte shrunk by 2,600 between May and June, from 317,118 to 314,485, a devastating loss of jobs that does not bode well for local economic momentum going into the Democrat National Convention and, again, for all that national scrutiny.

5 Responses to “Fox News: Charlotte a Perfect Example of the Economic Great Depression Blacks Are Living Through”

  • Jul
    29
    2011

    William Darity? That takes me back — took a class from him my senior year at Chapel Hill. Excellent teacher. Inspired me to go to grad school in econ and wrote recommendations for me…

    But yes, the DNC will shine a harsh light on the CLT, exposing all of its flaws.

  • Jul
    29
    2011

    This is Charlotte we’re talking about. Between now and the DNC Convention the powers that be will trot out their Newest Potempkin Village like they did when the Final Four was here a few years back. Symbolism and Facades are something Charlotte does truly in World Class fashion.

  • Jul
    29
    2011

    I just can’t get over how silent Mayor Foxx is on this issue. Does he really think things are getting better?

  • Jul
    30
    2011

    benchmark,
    Poor Foxx has not been told what to think….. yet. He will let us know through his paid spokesperson as soon as the Obama administration and the democrats whisper in his ear.

  • Jul
    30
    2011

    Tara,
    Did you hear that crime is down?
    I have had 3 thefts this year already.
    The police although well meaning have basically said this….

    Lay down like a slug and let them steal you blind because we “the justice system” will not help you.
    You should spend thousands on electric fences,razor wire,alarms, guards,video cams.

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