Black march toward prosperity mixes triumph, setbacks | www.myajc.com

The fifty years since the March on Washington have reshaped the economic landscape of America – for everyone.

For black Americans, the five decades since march organizers lifted up the twin goals of “jobs and freedom” have seen both impressive economic gains and painful disappointments.

The end of Jim Crow and legal segregation opened pathways to public-sector as well as corporate jobs – with many companies and governments embracing racial diversity. Millions of African Americans surged out of poverty, with many achieving the middle class or even affluence.

Nevertheless, the black community still lags national averages for wealth, income and education. Moreover, the pain of recessionary cycles – layoffs, unemployment, debt, foreclosure – has hit black Americans harder than others. The deep recession of 2007-09 wiped out the accumulated wealth of millions of black families, taking an especially grim toll across metro Atlanta.

“If that’s your benchmark – 50 years ago – then we are better off,” said Economist Gregory Price of Morehouse College. “But the trajectory, the next 50 years, it doesn’t look so good. I am less optimistic about the progress from here.”

via Black march toward prosperity mixes triumph, setbacks | www.myajc.com.