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The Federal Reserve and Black Unemployment

The Federal Reserve and Black Unemployment

The Federal Reserve Open Market Committee (FOMC) that determines U.S. monetary policy met in July.  Its job is to weigh the state of the American economy, both the labor market and inflationary pressures to set policy.  In an interesting note, its discussion of the labor market explicitly noted the condition of the African American and Hispanic unemployment rates.  More than just an aside, reflecting on the status of June’s labor market the minutes of the meeting show the following note:

“The unemployment rates for African Americans and for Hispanics stayed above the rate for whites, al­though the differentials in jobless rates across the different groups were similar to those before the most recent recession.”

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What Working People Are Doing This Week

What Working People Are Doing This Week

Welcome to our regular feature, a look at what the various AFL-CIO unions and other working family organizations are doing around the country and beyond. The labor movement is big and active—here's a look at the broad range of activities we're engaged in this week.

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How Much Does Our Failing Child Care System Cost You?

In the United States, our child care system is failing and this has hidden costs for working families. The typical annual cost for child care for a family with two children (an infant and a four-year-old) is nearly $18,000. That averages to about 30% of the typical working family's paycheck. This cost is so high that many can't afford it and leave the workforce altogether, with 75% of mothers and 50% of fathers in a recent poll saying they either left the workforce or switched to a less-demanding job.

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