Republicans appear to have outmaneuvered Democrats on the budget battle. They are betting the size of the general cuts in government spending (sequester) is not deep enough to cause a recession. If wrong, they will pay dearly.
Mobile broadband can reduce racial and ethnic inequalities because it makes it easier and cheaper for individuals in low-income communities to start and operate businesses. The technology also increases access to high-quality low-cost online education and healthcare services.
Last week, February 11 – 17, consumer anxiety subsided and economic indicators revealed they have become more confident about the future. This should lead to greater spending and less saving. However, manufacturing production continues to be a drag on economic recovery.
Since the government is unwilling or unable to address this unemployment crisis, blacks must step up their own efforts to make a difference. Developing small businesses is one important way of solving the problem.
President Obama’s State of the Union address declared the union is stronger; nevertheless, millions are still struggling. His hour-long speech covered deficit reduction, universal early-childhood education, energy efficiency, college affordability, gun violence and minimum wages.
In South Africa, black unemployment was 29.1% in 2012 and white unemployment was 6.1%. In January 2013, black unemployment in the US was 13.8% and white unemployment 7.0%. Comprehensive solutions are needed.
The January growth in jobs was disappointing and unemployment increased to 7.9%. The slow growth is caused by the political gridlock over the budget deficit which has dampened consumer confidence, decreased business investment and reduced personal spending.