Black Unemployment at Staggering Levels
(Huffington Post) — In the decade leading up to the Great Recession, Wanda Nolan grew accustomed to steady progress. From an entry-level job as a fill-in bank teller, she forged a career as a commercial banking assistant, earning enough to become a homeowner. She finished college and then got an MBA. Even after the recession unfolded in late 2007, her degrees and her familiarity with the business world lent her a sense of immunity to the forces ravaging much of the American economy. Nolan was an exemplar of the African American middle class and the increasingly professional ranks of the so-called New South.
But in September 2008, everything changed. A bank human resources officer called her into a private conference room. “All I heard was, ‘Your position has been eliminated,’” says Nolan, 37, who, despite being one of the more than 13 million officially unemployed Americans, still spends most days in her self-styled banker’s uniform of pearls and pants and practical flats. “My mind started racing.” More than two years later, Nolan is still looking for a job and feeling increasingly anxious about a future that once felt assured. Her life has devolved from a model of middle class African American upward mobility into an example of a disturbing trend: She is among the 15.5 percent of African Americans out of work and still looking for a job.