Failure to Launch: Black Millennials Lag in Achieving Financial Freedom
Greatest Decline in Employment
Economic shifts between 1980 and 2012 have caused a delay in young American adults’ ability to launch their careers, according to a new report by the Georgetown University Center on Education and the Workforce. Young African-American adults have felt the effects of this more than any group. Take a look at how Black millennials have been negatively impacted by the recession. —Natelege Whaley
Young African-Americans have the greatest decline in employment among racial groups between 2000 and 2012. The percentage of Blacks in their late 20s working full-time jobs declined from 65 to 48. This compares to a decline in employment from 71 percent to 62 percent for whites of the same age group.