Campaign Cash and Unemployment Rates
As Mayor Anthony Foxx was busying fundraising a record $532,000 to stock his campaign war chest, the Charlotte-area unemployment rate was continuing its sobering trajectory, climbing to 11.2 percent in June from 10.4 percent in May.
Ironically, one of the area’s hardest hit by the city’s unemployment woes is one of Foxx’s big constituencies – African-Americans struggling to find a job in the Queen City. This from Fox News:
According to an analysis by the Economic Policy Institute, in Charlotte, N.C., the unemployment rate for African-Americans is 19.2 percent. If you add in people who have given up looking for jobs, that number exceeds 20 percent, which, according to economists Algernon Austin and William Darity, has effectively mired blacks in a depression.
“You’re looking at a community that is economically depressed in my opinion,” Austin said. “And we need action that will address that scale of joblessness.”
Meanwhile, as the Charlotte-area shed nearly 4,000 jobs in June compared to the previous month and 100 new business closings were reported, Mayor Foxx is out raising copious amounts of campaign cash, sprucing things up for DNC 2012, and focusing on important responsibilities like, you know, rubbing elbows and noshing on exotic cuisine at the Charlotte International Cabinet’s International Toast to Celebrate International Partnerships and Community.
Wonderful; positively, internationally wonderful.
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