Baker Hughes November Rig Count – HBCU Territories


HBCU states and territories are vital to the energy production of United States and the world these days. The latest Baker Hughes rig count shows that the U.S. currently has 597 active rigs, with 478 or 80.1 percent of those being in HBCU territories. Energy continues to be a vital part of the economic landscape where HBCUs are located and is a barometer for how the economies of those states may very well be doing now and going forward.

Gas rigs are denoted by an orange triangle. – 98

Oil rigs are denoted by a blue triangle. – 380

African America’s November Jobs Report – 8.6%


Overall Unemployment: 4.6% (4.9%)

African America Unemployment: 8.1% (8.6%)

Latino America Unemployment: 5.7% (5.7%)

European America Unemployment: 4.2% (4.3%)

Asian America Unemployment: 3.0% (3.4%)

Previous month in parentheses.

Analysis: Overall unemployment dropped 30 basis points to its lowest since August 2007. All groups except Latino America saw a decline in their unemployment rate, who saw their unemployment rate go unchanged. African, Asian, and European America saw declines of 50, 40, and 10 basis points, respectively.

African American Male Unemployment: 7.7% (8.7%)

African American Female Unemployment: 7.1% (7.1%)

African American Teenage Unemployment: 26.6% (27.6%)

African American Male Participation: 67.5% (67.5%)

African American Female Participation: 62.6% (62.3%)

African American Teenage Participation: 28.0% (28.3%)

Analysis: African American men saw a 100 basis point decrease in their unemployment and no change in their participation rate. African American women saw no change in their unemployment rate and 30 basis point increase in their participation rate. African American teenagers saw a 100 basis point decrease in their unemployment rate and a 30 basis point decrease in their participation rate.

CONCLUSION: The overall economy added 178 000 jobs in November. A noticeable difference from the 161 000 in October. African America added a substantial 154 000 jobs in November. Leading to the highest African American employed numbers in the past five months. Unfortunately, despite such robust jobs growth in the month, the participation rate for African American moved only 10 basis points. The participation rate simply refusing to break from this five month bandwidth. All key variables were in the green in an unprecedented fashion, participation rate aside. The labor force increased, employed increased, and unemployed went down. December looms with a rate hike on the horizon and just how it will impact economic planning by small and big businesses alike will not be known for months. The psychological impact of the moment alone will be of significant given one has not happen in almost ten years. Also of note, for the first time since December of 2015, average hourly earnings took a dip.

African America currently needs 505 000 jobs to match America’s unemployment rate. A decrease of 218 000 jobs from October.

HBCU Money™ Business Book Feature – The Curse Of Cash


From the New York Times bestselling author of This Time Is Different, “a fascinating and important book” (Ben Bernanke) about phasing out most paper money to fight crime and tax evasion–and to battle financial crises by tapping the power of negative interest rates

The world is drowning in cash–and it’s making us poorer and less safe. In The Curse of Cash, Kenneth Rogoff, one of the world’s leading economists, makes a persuasive and fascinating case for an idea that until recently would have seemed outlandish: getting rid of most paper money.

Even as people in advanced economies are using less paper money, there is more cash in circulation–a record $1.4 trillion in U.S. dollars alone, or $4,200 for every American, mostly in $100 bills. And the United States is hardly exceptional. So what is all that cash being used for? The answer is simple: a large part is feeding tax evasion, corruption, terrorism, the drug trade, human trafficking, and the rest of a massive global underground economy.

As Rogoff shows, paper money can also cripple monetary policy. In the aftermath of the recent financial crisis, central banks have been unable to stimulate growth and inflation by cutting interest rates significantly below zero for fear that it would drive investors to abandon treasury bills and stockpile cash. This constraint has paralyzed monetary policy in virtually every advanced economy, and is likely to be a recurring problem in the future.

The Curse of Cash offers a plan for phasing out most paper money–while leaving small-denomination bills and coins in circulation indefinitely–and addresses the issues the transition will pose, ranging from fears about privacy and price stability to the need to provide subsidized debit cards for the poor.

While phasing out the bulk of paper money will hardly solve the world’s problems, it would be a significant step toward addressing a surprising number of very big ones. Provocative, engaging, and backed by compelling original arguments and evidence, The Curse of Cash is certain to spark widespread debate.

The Fed & Tech Week In Review – 12/3/16


Every Saturday the HBCU Money staff picks ten articles they were intrigued by and think you will enjoy for some weekend reading impacting finance and tech.

Study, work, retire. Time to scrap the old pattern of working life l @wef

1/4 of global energy-related GHG emissions come from transport. l

Alexander, Who Use To Be Rich Last Sunday teaches about opportunity cost and spending l@council4econed

Natural disasters hamper growth and make it harder for the poor to escape poverty. Solutions? l @WorldBankAfrica

We can recycle everything we use, including cigarette butts and toothbrushes. So why don’t we? @wef

Physics may be a small but crucial fraction of our reality l @newscientist

Eleven cities that are showing the way on fighting climate change l @renewablecities

ESA approves 2020 ExoMars rover despite crash earlier this year l @newscientist

Nikola Motor Company Unveiling — Details On “Zero Emissions” Semi Truck l @cleantechnica

Hubble uses galactic lens to study universe’s first stars l @sciencemagazine

The Fed & Tech Week In Review – 11/26/16


Every Saturday the HBCU Money staff picks ten articles they were intrigued by and think you will enjoy for some weekend reading impacting finance and tech.

Why you might not be as old as you think you are #ageing

What role do governments play in creating #jobs?

Is there a link between rises in oil prices and rises in food prices?

How do you remove five trillion pieces of plastic waste from the Pacific Ocean?

This map shows how undersea cables move internet traffic around the world

Buckingham Palace Might Go Solar In £369 Million Refit

Africa’s tallest tree measuring 81m found on Mount Kilimanjaro

Deepest water found 1000km down, a third of way to Earth’s core

U.S. sets plan to build two exascale supercomputers

How @google overtook @Apple in education