Black men are unemployed at a much higher rate than their counterparts — and it’s creating an economic crisis in the country. According to the Atlanta Black Star, Black communities take a hit totaling $50 billion annually in costs due to this unemployment crisis. “Black people need to take this report and take it to their elected official and say ‘You need to do more because you don’t fully realize how big this problem is,’” said Algernon Austin, who authored the study initially published by the Center for Economic and Policy Research. “I’m hoping that this work serves to inspire people, and, frankly, particularly Black men.” And that’s just the beginning of the problems, according to Austin. Using data going all the way back to 2014, he revealed that Black men between the ages of 25 to 54 would have to get nearly a million jobs (947,000, to be exact) to be on par with their non-Black counterparts and close the economic gap. What’s more, if one million of them got jobs and kept...

You may have heard of inflation, but what about ‘shrinkflation’? If it’s not one thing it’s another. This time it’s a phenomenon called ‘shrinkflation’ where consumers pay the same price for less when it comes to buying goods. According to CBS News , this is not a new trick, this practice plays a role during periods of rising inflation or economic downturns. One of the results of the COVID-19 pandemic placed cost pressures on a number of industries along with their products thanks to various reasons which include difficulty in hiring workers, trucking shortages, and price increases for raw materials. “If you are a manufacturer or retailer, you have a couple of choices — you can keep prices the same, which means you have lower margins. Second, you can run fewer promotions, and that definitely happened in the last year,” said Anne-Marie Roerink, the founder of market research firm 210 Analytics. “And the third measure is to keep prices the same but have a little less in the box.”...

Africa is emerging as a new power as its social, economic, and political improvements show a consistent pace that will position them to play an important role in global affairs. Africa has come a long way in terms of economic growth in the past few years. According to The Economist , several of the continent’s countries are on track to have fast-growing economies until 2027. Seven African countries will be among the 15 to grow fastest economically until 2027 https://t.co/yC7W0jkdbu — The Economist (@TheEconomist) March 28, 2020 In 2019, Kenya reclaimed its crown for having the largest economy in Eastern and Central Africa, beating out its developing neighbor, Ethiopia, for the first time since 2016, as reported by Future Directions International . The continent’s demographics also play a huge role in its growth. According to The Economist , Africa’s population will nearly double by 2050, totaling to more than a quarter of the world’s population. Additionally, PWC reported that...