Business and Finance
Black women most affected by pay inequality
New research shows that a significantly larger percentage of black Americans, and particularly black women, now earn lower than their peers nationally.
While 23% of all U.S. staff earn low wages, defined within the report as lower than $17 an hour, the proportions are much higher when race and gender are taken into consideration.
Some 32% of black staff earn lower than $17 an hour, compared with 21% of white staff, in response to a brand new evaluation by Oxfam, which describes itself as a world organization fighting inequality to finish poverty and injustice. And 35% of black women earn low wages, compared with 29% of black men, 25.9% of white women and 17.4% of white men.
This reportThe “low-wage crisis” has revealed some surprising findings. As many as 39 million U.S. staff—nearly one in 4—are low-wage earners. Single parents make up 42% of those earning lower than $17 an hour, compared with just 12% of oldsters in partnerships.
Among the toughest hit: women and communities of color
The findings revealed that women and communities of color, including Black staff, are most affected by low wages and stagnant minimum wage policies. The federal minimum wage for covered non-exempt staff is $7.25 an hour, According to to the U.S. Department of Labor.
Oxfam said the $7.25 rate has remained unchanged since 2009. Earlier this 12 months, it said the minimum wage had increased by $15 an hour in 22 states since Jan. 1.
The organization found that states which have not raised their minimum wage above the federal standard have higher rates of staff of color earning low wages, particularly within the South. Take Mississippi, where 34% of all staff earn low wages, 46% of black staff earn low wages. In Texas, the state with the most important black population within the country, 34.2% of black staff earn low wages.
The report highlights the urgent need for the federal government to handle in-work poverty and lift the minimum wage.
“Low-wage workers, who are disproportionately women of color, are the backbone of our economy. The least this country can do is pay them wages that cover their basic needs — which the current federal minimum wage does not provide, no matter where in the U.S. you live,” said Kaitlyn Henderson, writer of the report and senior researcher at Oxfam America.
She added: “We’re talking about childcare workers and domestic workers who take care of our families and farm workers who help put food on our tables. But decades of segregation have ensured that these jobs, which primarily employ women, immigrants or people of color, have been systemically underpaid and undervalued. That has to change.”
William Michael Cunningham said the shortage of federal motion to lift the minimum wage and reduce income inequality has led to wider disparities and greater hardship for communities.
He stressed that black women are sometimes doubly disadvantaged because of racial and gender discrimination, which ends up in higher rates of low-paid work in comparison with other demographic groups.
He noted that black women are disproportionately represented in low-wage sectors corresponding to health care support, retail and food service, adding that they earn just 63 cents for each dollar earned by non-Hispanic white men. “Black women also bear significant caregiving responsibilities, both for children and for elderly family members.”
Why African Americans Are More Affected
Henderson shared with BLACK ENTREPRENEURSHIP that the upper percentage of low-wage staff within the black community is because of the long history of racial and gender discrimination within the United States, which might be traced throughout the history of this country.
She explained that when minimum wage laws were introduced within the late Nineteen Thirties, industries that primarily employed black staff within the South, corresponding to farm staff and domestic staff, were excluded from wage protections.
She said those exclusions are repeated today, with continued occupational segregation. She stressed that this includes jobs that employ a disproportionate variety of staff of color, and particularly women of color, who’re paid lower wages.
“As we mentioned in our report, recently the Bureau of Women’s Affairs in the Department of Labor did a study that found that black and Latina women lose literally billions of dollars because of occupational segregation.”
Cunningham said the shortage of federal motion to lift the minimum wage and reduce income inequality has led to wider disparities and greater hardship for these communities.
Suggestions to assist improve future conditions
So what might be done to cut back these numbers? Henderson suggested that wages for all staff should be raised, and that exclusions from the minimum wage should be ended by passing the Raise the Wage Act to lift the minimum wage to $17. Oxfam said it was partly inspired to provide its latest report by the changing conditions of the act.
When it involves occupational segregation, Henderson says there are bills in Congress immediately that might directly address the pay gap, corresponding to the Paycheck Fairness Act. She says that might help women enter higher-paying jobs which are dominated by men — corresponding to the FAMILY Act and the Schedules That Work Act.
Cunningham believes the only most vital think about improving the economic situation of low-wage staff, especially black women, is robust policy intervention.
He says raising the federal minimum wage would offer immediate financial relief for low-wage staff. He also said there’s a necessity to offer higher access to inexpensive education and job training programs, including college, job training and apprenticeships. He also suggested strengthening child care support, access to health care and paid family leave.
While the situation stays dire, Cunningham said there was some improvement over the Trump era under the present administration. He pointed to a greater give attention to addressing racial and economic inequality through quite a lot of policy measures, although progress has been slow. He said some states, outside the South, have taken independent steps to lift the minimum wage, providing a greater lifestyle for low-wage staff.
“The persistently high percentage of low-wage workers of color in the South underscores the need for comprehensive interventions at the federal and state levels to address wage inequality and systemic barriers. Significant efforts are needed to ensure equal economic opportunity for all workers, regardless of race or geography.”
Former Chicago Bulls player, Lool Deng, couldn’t win any NBA championships or had no max contracts during his profession. However, its net value is greater than a few NBA players who’ve global recognition and still play in the league.
According to the man who was Born in South Sudan It has a personal net value of over $ 200 million, exceeding Stephen Curry ($ 180 million), Dwyane Wade ($ 170 million) and James Harden ($ 165 million). Deng has never had the pleasure to get a style of contracts that the athletes concluded during their profession, but his ventures, other than the pitch in real estate, put over them.
During his NBA profession, while playing for Bulls, Cleveland Cavaliers, Miami Heat, Los Angeles Lakers and Minnesota Timberwolves, his total earnings amounted to $ 166 million in a few years from 2004 to 2019.
Most of the money he earned comes from his real estate company, D3N9, which he began in 2014, ending his profession in the game. He received suggestions in the field from the real estate entrepreneur Don Peebs and former banker Wall Street David Gross, who’s the investment director of his company. Under the umbrella of his company, his portfolio includes hotels, resorts, apartments and residential buildings. Real estate is distributed in Africa, England and the United States and have a total value of $ 125 million.
In the United States D3N9 has multi -family units in Baltimore, houses in Hamptons, Virgin Hotels Las Vegas and a luxurious resort in the Bahamas. His business and bravado led him to earn more cash except sport than lots of his peers who earn most of their income.
After growing up in Brixton, South London, he played his collegial profession at the Duke University before he was elected in the first round of NBA Draft by Phoenix Suns with the seventh selection in 2004. He created the ALL-Star team twice during his profession and was a member of the second NBA team in 2012.
When he retired in 2019, he had 13,361 points, 5,468 rebounds and a couple of,042 assists.
(Tagstranslate) lool deng
Live Nation Entertainment invests in its portfolio of real estate, committing to a plan value $ 5 billion to update the center of Atlanta about the district of the stadium.
The live entertainment company plans to rent a spot for 5,300 places at the Centenary Shipyard in Atlanta. Currently developed next to State Farm Arena and the Mercedes-Benz stadium, a mixed megaproject costs $ 5 billion.
According to Live Nation Will cooperate with sports teams and real estate programmers on the undertaking. The owner of Atlanta Hawks, Tony Ressler, whose team is playing at the arena, and his brother Richard Resssler, the owner of a CIM programming company, have already began introducing the project to realization.
“The fact that Live Nation decided to be in the center of Atlanta is a great matter,” said the co-founder and director of CIM, Shaul Kuba. “We are creating a completely new market in Atlanta, which did not really exist before.”
It focuses on stadiums as a central element. However, the inclusion of Live Nation will ensure readiness and skill to bring artists from the list A in the center of Atlanta. His concert place will turn into one in every of the largest live internal theaters.
While the project guarantees to help the city of a fighting in the city center, economists don’t seem to sell in the neighborhood model at the stadium. Opposes experts say that projects use taxpayers’ funds to reverse expenditure from the community to the latest stadium.
Reflection of the city itself, the center of Atlanta (*5*)it stays variedAccording to black people, they constitute 48% of his population, according to. However, his financial and residential slowdown, escalated during a pandemic, makes him a brand new trial place for stadium districts.
Until now, the centenary has made slow progress due to approval, permits and partnerships of city officials. In the case of only $ 1.3 billion in his budget, he has 162 apartments, brewery and pavements established in the area.
However, for the World Championships in 2026, a team of programmers hopes to complete a 304-unique apartment complex, together with hotels, restaurants and retail trade. In addition, he hopes to construct an addictive bar from cinema-sports, which might fit 1,500 participants.
In addition to investing in the creation of space in the center of Atlanta, Live Nation also plans to add 20 more places to its portfolio until 2026. He hopes to play an vital role in the developing entertainment industry and real estate in sport.
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Africa Travel Investments, concentrated company acquired Pollman’s trips and safari, the oldest organizer of Kenya trips. The agreement emphasizes the numerous trust of Private Equity in the long run of the Kenya tourist sector, a key factor contributing to the national economy.
The Competition Office in Kenya (CAK) previously approved the takeover of Africa Travel Investments in the quantity of 100% of the Pollman’s issued share capital.
Pursuant to the CAK statement: “In relation to the proposed transaction, after merger, the share in the integrated entity’s market will not change, because the goal and the buyer is not in a similar company, and therefore this will not affect the structure and concentration of markets for tour operators in Kenya.”
This takeover occurs after the February investment of Alterra Capital, the Private Equity fund supported each by Danglot, the richest person in Africa, together with chairman Dangot Cement, together with the American billionaire Dave Rubenstein, on the ARP Africa Travel Group, Pollman’s mother company. According to CAK, connection won’t be going to affect A competitive landscape of the concert market in Kenya, including the obligatory focus of adventure and abundant safari.
The regulatory authority also determined that the acquisition won’t be going to adversely affect the employment or competitiveness of smaller firms contained throughout the industry.
CAK said: “The office also stated that the contract does not pose a threat to jobs or competitiveness to small companies, two of the key fears related to the law to Kenya. The parties indicated that they would not cause any losses of employment from the takeover.”
According to the Nigerian tycoon, it’s value $ 23.2 billion. Vast business empire dangot Include Dangote Cement, a serious cement producer on the continent with operations covering 10 African nations. His investments also include the production of fertilizers in Nigeria and the recently operational refinery of Dangot.
The acquisition of Pollman by the entity supported by Danggot signals diversification to the promising tourism market in Kenya.
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