On the flip side, there is some good news for Black women in terms of education, business and upward mobility. As much as there is bad news about the lack of economic mobility and the Great Recession affecting many Black women and their families, there are many other Black women making strides in education and owning and creating business. Hence the successes of educated and upward mobile Black women will be spoken about and discussed and what this means for Black women’s mobility in this country.
Black women are graduating from high school and entering and graduating from university at higher rates than ever before. Over the years, high school and college graduation rates for Black women has increased. In 2014, news came out that Black women were the most educated demographic in the nation. In fact, Black women make up sixty six percent of African Americans with a Bachelor’s degree, seventy one percent of African Americans with a Master’s degree and sixty five percent of African Americans with a Doctorate. Having graduated from high school last year, I was elated to hear the news. I was finally glad that there was something positive about Black women being celebrated in the media.
It is important for Black women to become educated and start owning their own businesses because it is essential for a group of people to build themselves up economically and invest in their future financially. And it is essential for people to invest in and keep the money that they make in their own communities as well. And investing in being educated, spending money wisely, investing in your communities and keeping the wealth in the family is one of the most essential things in building and ensuring economic stability and wealth for anyone particularly Black women.
Black women also participate in the job market more so than any other woman in the country even after they become mothers. And Black women are also starting and owning businesses at six times the national average, owning one million firms, employing 272,000 people and taking in a revenue of 44.9 billion people. And many well off and educated Black women are making huge and great strands in these arenas and doing well for themselves. As well off and educated Black women grow in number, they will be a force to be reckon with in and will become an important part of the development of the country.
However the implications of Black women’s success in education and business hasn’t really translated to much accolades or rewards. Currently, Black women have the lowest median wealth out of everyone in the nation with five dollars in their working prime. Black women are still paid less than their Caucasian counterparts earning sixty four cents to the dollar White men make. And Black women’s median wealth was one hundred dollars not including obligations compared to Caucasian woman’s $41,500. This is due to the fact that Black women are paid less and are often times working more for less pay. Black women are more likely than anyone else in the nation to be apart of the working poor. And Black women are more likely to be unemployed than their White counterparts as well. And racial and gender bias intersects for Black women in business as well since Black small business owners are less likely to get a contract from the federal government. And federal government is more likely to give contracts for businesses to men especially White men. And Black women only make six percent of revenue from small businesses compared to twenty nine percent for White women. However many Black women who find themselves in such positions use these situations to go out and apply for jobs that pay well or seek educational degrees and skills needed to compete in the global job market.
What also plays a role in Black women being paid less and working for a longer amount of time than their Caucasian counterparts is the lack that many if not most of them lack connections. Many Caucasian and non Black men and women have connections and know people who work in high positioned jobs in companies. And since many of them knows such people, these people help them get the job that they want. This doesn’t always happen this way but it does happen many times. And there are some Black women with such connections as well however many more non Black women are more likely to have such connections in regards to gaining employment and upward mobility in society.
Worst of all, Black women have the lowest median wage network in this nation. Since they are paid less than their counterparts and work for a longer period of time, many don’t have enough money to put aside for retirement. And since so few save up money for retirement, many find themselves being poverty stricken in their elderly years. And many of them enter their senior years with a disability, without a spouse and support system.
Regardless of whatever struggles Black women face with the intersection of racism and sexism in society, Black women still manage to rise and preserve above their struggles and problems to better themselves. Black women’s economic mobility and stability is an important topic to be discussed because Black women are the head of their families and a growing number of female entrepeneurs and educated women in society. Hence their struggles and hardships will drive more Black women to succeed in their field of choice and play a role in deciding the solutions to the most important issues in the nation.
Links of where I got my information from: