40 Percent of Unemployed Americans are African Americans, Hispanics
More than 40 percent of unemployed workers in America are either African American or Hispanic, although these two groups make up less than 30 percent of the total workforce. This is the latest finding from the Professional Diversity Network’s May 2014 Diversity Jobs Report.
The Professional Diversity Network, which develops and operates online networks dedicated to serving diverse professionals in the U.S., used data from its Diversity Jobs Index (DJI), which objects “to serve as an indicator of the employment condition for diverse Americans. The DJI is derived from a wide cross section of leading employers in various industry sectors, geographic regions and number of full and part time employees, seeking to hire diverse talent utilizing Professional Diversity Network. “
Key highlights from the recent report include:
The DIJ for the April 2014 report is 50.21, indicating a 1.99 percent increase in demand for diverse talent as compared to the previous month.
From April to May, there was a slight increase in full-time employment. Overall demand for diverse talent (namely veterans and the disabled) increased, while the largest segments of African Americans, women and Hispanics saw little to no movement.
For every percentage increase in the rate of racial or gender diversity (up to the rate represented in the relevant population), employers increased sales revenue by approximately 9 and 3 percent, respectively.
Throughout the quarter, African Americans have been consistently underrepresented in the Financial Activities sector, making up only 9.2 percent of the overall labor force in this sector during March. Yet, African Americans have been consistently strongly represented in the Public Administration sector, accounting for 17.62 percent of the overall labor force in this sector during March.
Women, making up 47 percent of the workforce, continue to be underrepresented in the Transportation and Utilities sector, only accounting for 23.9 percent of the overall labor force in this sector during March. At 74.6 percent of the overall labor force, women are strongly represented in the Education and Health Services sector.