Are Professionals of Color More Adversely Affected by The Economy?

By Babatunde Ilori 

May 2010

I came across a recent report that calls attention to a startling fact from the Bureau of Labor Statistics. As of March 2010, over 16.5 percent of African Americans and 12.6 percent of Hispanic Americans were unemployed. However, only 8.8 percent of Whites were unemployed. These results led me to investigate if the plight of our current economic situation is more adversely affecting people of color.  

Jerome Young, founder and CEO of Attract Jobs Now closely monitors the job market. His company helps clients obtain jobs through resume consultation, utilization of social media vehicles such as LinkedIn and interview prep. Young has not seen a stark difference with the success rate of employment for people of color. However, Young believes that minorities struggled to maintaining their networks.   

Shayna Gaspard, founder of Brand YOU Consulting, a professional development and career coaching company, echoes Young's observations. "I have seen my minority candidates struggle a little bit more as far as having an extensive enough network to be able to capture the opportunities elsewhere," she says. If you read any article about advice on how to obtain a job in this market, the importance of networking will be mentioned many times. Your network is the strongest resource you have to utilize when finding employment and getting your foot in the door. As a person of color, I can relate. 

When growing up, I only knew of three professions I could be after college, a doctor, lawyer or engineer. I did not have the luxury of having parents who attended cocktail hours with other parents in the working professional world. My dreams never involved becoming an investment banker, consultant or brand manager as a career. My dreams were limited to the possibilities I was exposed to growing up. My parents did their best to raise me, however, due to their limited network, I was never exposed to other possibilities in career fields. 

People of color may struggle to develop an extensive network because the people they have access to may not share the same educational background or job experiences. The people who share their educational background do not look like them, thus, making the relationship more difficult to cultivate. This becomes increasingly important in a dry economy such as the one we are currently experiencing.