According to Black Demographics 2012 Stats;
Black owned businesses created 1million jobs, enough to employ 4% of the working age Black Population. Proving there is a strong relationship between strengthening Black Owned Businesses, and decreasing black unemployment.
According to Google;
“Currently, a dollar circulates in Asian communities for a month, in Jewish communities approximately 20 days and white communities 17 days. How long does a dollar circulate in the Black community? 6 hours!
In 2018 US Census Bureau estimated 47,841,851 African Americans in the United States which is 14.6% of the total American population of 327.2 Million. This includes those who identify as ‘Black Only’ and as ‘Black in combination with another race’.
Black American Unemployment
Black Unemployment Rate April 2020: 16.7%
up from March (6.7%). U.S. unemployment rate: 14.7%black unemployment is still nearly double white employment nationwide.
jobs that black workers and white workers get do not pay the same:
Black workers earn less money and build less wealth than white workers
The Statistics show Black Owned Businesses are more likely to provide Jobs for black people. In addition black people must be trained to patronize businesses that are owned by black people.
If we can change our buying habits, change how quickly money exits the black community from 6 hours, to maybe a week, We can resurrect new black Wall Streets, all over America.
The only solution to the problem of high black unemployment, and poverty is to allocate federal resources for Black Owned Businesses, not Minority which includes everything including handicap, white women, gay and little people. If we can increase the time money
Finally reparations will help heal the wounds of black people, and bridge the wealth gap.