OWNING THE 3RD TERM: OBAMA’S ECONOMY HAS BETRAYED MINORITIES

African Americans Are Struggling To Find Jobs And Get Higher Wages Under Obama

In June 2016, The Unemployment Rate For African-Americans Was 8.6 Percent, Three And A Half Percent Higher Than The National Average. (Bureau Of Labor Statistics, Accessed 7/26/16)

In June 2016, There Were 1,678,000 Unemployed African-Americans. (Bureau Of Labor Statistics, Accessed 7/26/16)

A 2016 Economic Policy Institute Analysis Found That The Unemployment Rate Of Young Black College Graduates, 21-24, Is At 9.4 Percent, Nearly 5 Points Higher Than Their White Counterparts. “The unemployment rates of young black and Hispanic college graduates remain much more elevated than those of whites. In fact, the highest young white college graduate unemployment rate reached in the recession (9.0 percent) is still lower than that of young black college graduates today (9.4 percent).” (Teresa Kroeger, Tanyell Cooke, and Elise Gould, “The Class Of 2016,” Economic Policy Institute, 4/21/16)

blackjobs_small-2 OWNING THE 3RD TERM: OBAMA'S ECONOMY HAS BETRAYED MINORITIES

The Median Income For African American Households (Black Alone) Has Declined By $2,228 Since 2008. (U.S. Census Bureau, Accessed 5/18/16)

  • In 2008, Median African American (Black Alone) Household Income Was $37,626, And In 2014 It Was $35,398.(U.S. Census Bureau, Accessed 5/18/16)

The Median Income For African American (Black Alone) Men Has Declined By $1,200 During Obama’s Presidency, From $27,769 In 2008 To $26,569 In 2014. (U.S. Census Bureau, Accessed 5/18/16)

The Median Income For African American (Black Alone) Women Has Declined By $1,242 During Obama’s Presidency, From $22,208 In 2008 To $20,966 In 2014. (U.S. Census Bureau, Accessed 5/18/16)

The Number Of African Americans In Poverty Has Increased Under Obama

The Black Poverty Rate Has Increased By 1.5 Percentage Points Under Obama, From 24.7 In 2008 To 26.2 Percent In 2014.(U.S. Census Bureau, Accessed 5/18/16)

The Number Of African Americans (Black Alone) In Poverty Has Increased By 1,376,000 During Obama’s Presidency. (U.S. Census Bureau, Accessed 5/18/16)

In 2008, There Were 9,379,000 Million African Americans (Black Alone) Living In Poverty, And In 2014 There Were 10,755,000 African Americans (Black Alone) Below The Poverty Level.(U.S. Census Bureau, Accessed 5/18/16)

In 2014, 37.1 Percent Of African-American Children Were Living In Poverty, Up From 34.7 Percent In 2008. (U.S. Census Bureau, Accessed 7/7/16)

  • In 2014, There Were 4.09 Million African-Americans Under The Age Of 18 In Poverty, Up From 3.88 Million In 2008. (U.S. Census Bureau, Accessed 7/7/16)

According To A Pew Analysis Of Census Bureau Data, The Poverty Rate For The Nation’s African American Children Has Not Improved Even As The Poverty Rate For Other Demographic Groups Has. “The share of American children living in poverty has declined slightly since 2010 as the nation’s economy has improved. But the poverty rate has changed little for black children, the group most likely to be living in poverty, according to a new Pew Research Center analysis of Census Bureau data.” (Eileen Patten and Jens Manuel Krogstad, “Black Child Poverty Rate Holds Steady, Even As Other Groups See Declines,” Pew Research, 7/14/15)

  • “Black Children Were Almost Four Times As Likely As White Or Asian Children To Be Living In Poverty In 2013.” “Among black children, however, the rate held steady at about 38%. Black children were almost four times as likely as white or Asian children to be living in poverty in 2013, and significantly more likely than Hispanic children.” (Eileen Patten and Jens Manuel Krogstad, “Black Child Poverty Rate Holds Steady, Even As Other Groups See Declines,” Pew Research, 7/14/15)

The Homeownership Rate For African-Americans Has Dropped By Nearly Five Percent

Since Obama Took Office, The U.S. Homeownership Rate For African Americans Has Dropped Nearly Five Percent, From 46.1 Percent In The First Quarter Of 2009 To 41.5 Percent In The First Quarter Of 2016. (U.S. Census Bureau, Accessed 2/2/16)

A “Record High” 36 Percent Of Young African-Americans Aged 18 To 34 Are Living In Their Parents’ Homes. “Among racial and ethnic groups, record-high shares of black and Hispanic young adults (36% for each group) lived in the home of their parent(s) in 2014.” (Richard Fry, “For First Time In Modern Era, Living With Parents Edges Out Other Living Arrangements For 18-To 34-Year-Olds,” Pew Research, 5/24/16)

  • “For Black Young Adults, Living With Mom And/Or Dad Is Now The Most Common Arrangement.” “For black young adults, living with mom and/or dad is now the most common arrangement, as only 17% were living with a spouse or romantic partner in 2014.” (Richard Fry, “For First Time In Modern Era, Living With Parents Edges Out Other Living Arrangements For 18-To 34-Year-Olds,” Pew Research, 5/24/16)

WOMEN ARE STRUGGLING IN THE OBAMA ECONOMY

Women’s Income Has Fallen Under Obama, And Income Inequality Has Not Improved

Female Median Income Has Fallen By $705 Under Obama, From $22,945 In 2008 To $22,240 In 2014.(U.S. Census Bureau, Accessed 5/18/16)

Under The Obama Administration There Has Been No “Significant Annual Increase” In Female-To-Male Earnings Ratio Since 2007. “The female-to-male earnings ratio has not shown a statistically significant annual increase since 2007.” (“Income, Poverty And Health Insurance Coverage In The United States: 2014”, Census, 9/16/15)

The Female Poverty Rate Has Increased Under Obama

The Number Of Women In Poverty Has Increased By 3,818,000 During Obama’s Presidency. (U.S. Census Bureau, Accessed 5/18/16)

  • The Number Of Women In Poverty In 2008 Was 22,131,000 And Increased To 25,949,000 In 2014.(U.S. Census Bureau, Accessed 5/18/16)

The Female Poverty Rate Increased By 1.7 Percentage Points Under Obama, From 14.4 Percent In 2008 To 16.1 Percent In 2014. (U.S. Census Bureau, Accessed 5/18/16)

HISPANICS ARE STRUGGLING IN THE OBAMA ECONOMY

The Hispanic Unemployment Rate Is Nearly A Point Higher Than The Nationwide Average

In June, The Hispanic Unemployment Rate Was 5.8 Percent. (Bureau Of Labor Statistics, Accessed 6/8/16)

Income And Wages For Hispanics Have Decreased Under Obama

Median Income For Hispanic Workers Has Decreased By $823 Under Obama, From $22,835 In 2008 To $22,012 In 2014.(U.S. Census Bureau, Accessed 5/18/16)

  • Median Income For Hispanic Women Has Fallen By $467 Under Obama, From $18,052 In 2008 To $17,585 In 2014.(U.S. Census Bureau, Accessed 5/18/16)
  • NOTE: Median Income For Hispanic Men Has Only Increased By $282 Under Obama, From $26,393 In 2008 To $26,675 In 2014. (U.S. Census Bureau, Accessed 5/18/16)

“Median Household Income For Hispanics Has Stagnated Since The Great Recession.” “At the same time, median household income for Hispanics has stagnated since the Great Recession—in 2014 it was $42,491, a level essentially unchanged since the Great Recession (income is also little changed among the U.S. public), according to the latest Census Bureau data.” (Mark Hugo Lopez, Rich Morin, Jens Manuel Krogstad, “Latinos Increasingly Confident in Personal Finances, See Better Economic Times Ahead,” Pew Research, 6/8/16)

  • NOTE: Median Household Hispanic Income Was $41,689 In 2008, And Has Only Risen To $42,491 In 2014. (U.S. Census Bureau, Accessed 5/18/16)
  • NOTE: Median Household Hispanic Income For $44,165 In 2007.(U.S. Census Bureau, Accessed 5/18/16)

Hispanic Net Worth Has Declined

According To Pew Research, Hispanic Households’ Net Worth Has Continued To Decline After The Great Recession Unlike Other Racial Or Ethnic Groups. “On wealth, Hispanic households had the largest percentage decline in their net worth through 2009 of any major racial or ethnic group. Unlike white households, however, their net worth continued to fall after the recession.” (Mark Hugo Lopez, Rich Morin, Jens Manuel Krogstad, “Latinos Increasingly Confident in Personal Finances, See Better Economic Times Ahead,” Pew Research, 6/8/16)

Pew Found That From 2010 To 2013, The Median Wealth Of Hispanic Households Decreased By More Than 14 Percent, From $16,000 To $13,700. “Our analysis of Federal Reserve data does reveal a stark divide in the experiences of white, black and Hispanic households during the economic recovery. From 2010 to 2013, the median wealth of non-Hispanic white households increased from $138,600 to $141,900, or by 2.4%. Meanwhile, the median wealth of non-Hispanic black households fell 33.7%, from $16,600 in 2010 to $11,000 in 2013. Among Hispanics, median wealth decreased by 14.3%, from $16,000 to $13,700.” (Rakesh Kochhar and Richard Fry, “Wealth Inequality Has Widened Along Racial, Ethnic Lines Since End Of Great Recession,” Pew Research Center, 12/12/14)

In 2013, The Median Net Worth Of White Households Was 10 Times That Of Hispanic Households. “Likewise, the wealth of white households is now more than 10 times the wealth of Hispanic households, compared with nine times the wealth in 2010.” (Rakesh Kochhar and Richard Fry, “Wealth Inequality Has Widened Along Racial, Ethnic Lines Since End Of Great Recession,” Pew Research Center, 12/12/14)

The Hispanic Poverty Rate Has Increased Under Obama

The Hispanic Poverty Rate Has Increased By 0.4 Percentage Points Under Obama, From 23.2 Percent In 2008 To 23.6 Percent In 2014. (U.S. Census Bureau, Accessed 5/18/16)

The Number Of Hispanics In Poverty Has Increased By More Than 2.1 Million During Obama’s Time In Office. (U.S. Census Bureau, Accessed 5/18/16)

In 2008, There Were 10,987,000 Hispanics Living In Poverty, And In 2014 There Were 13,104,000 Hispanics Living Below The Poverty Level. (U.S. Census Bureau, Accessed 5/18/16)

The Homeownership Rate For Hispanics Has Dropped By Three Percent

Since Obama Took Office, The U.S. Homeownership Rate For Hispanics Has Dropped Three Percent, From 48.6 Percent In The First Quarter Of 2009 To 45.3 Percent In The First Quarter Of 2016. (U.S. Census Bureau, Accessed 2/2/16)

A “Record High” 36 Percent Of Young Hispanics Aged 18 To 34 Are Living In Their Parents’ Homes. “Among racial and ethnic groups, record-high shares of black and Hispanic young adults (36% for each group) lived in the home of their parent(s) in 2014.” (Richard Fry, “For First Time In Modern Era, Living With Parents Edges Out Other Living Arrangements For 18-To 34-Year-Olds,” Pew Research, 5/24/16)

  • “For Hispanic Young Adults Living With Parent(S) Is…The Dominant Arrangement.” “For Hispanic young adults living with parent(s) is also the dominant arrangement as 30% were living with a spouse or significant other in 2014.” (Richard Fry, “For First Time In Modern Era, Living With Parents Edges Out Other Living Arrangements For 18-To 34-Year-Olds,” Pew Research, 5/24/16)