African America’s July Jobs Report – 11.4%

jobs_pic

Overall Unemployment: 6.2% (6.1%)

African America Unemployment: 11.4% (10.7%)

Latino America Unemployment: 7.8% (7.8%)

European America Unemployment: 5.3% (5.3%)

Asian America Unemployment: 4.5% (5.1%)

Previous month in parentheses.

Analysis: The overall unemployment rate rose 10 basis points. European and Latino Americans saw their unemployment rates go unchanged. Asian America saw a 60 basis point decline in their unemployment rate. African America was the only group to see an increase rising 70 basis points and remaining the only group with double digit unemployment.

African American Male Unemployment: 11.1% (10.9%)

African American Female Unemployment: 10.1% (9.0%)

African American Teenage Unemployment: 34.9% (33.4%)

African American Male Participation: 68.0% (67.5%)

African American Female Participation: 62.3% (61.4%)

African American Teenage Participation: 27.3% (25.2%)

Previous month in parentheses.

Analysis: African American males saw their unemployment rate rise 20 basis points, but also experienced a healthy increase in their participation rate of 50 basis points. African American females short lived single digit unemployment rose 110 basis points, but they also experienced a rise in their participation rate of 90 basis points. African American teenagers continue to struggle with a rise of 150 basis points in their unemployment rate and only a negligible rise in their participation rate.

CONCLUSION: The overall economy added 209 000 jobs in July. Economist overall believe the economy is finally showing signs of healthy and stable recovery as job increases continue over 200 000 per month. African America picked up 69 000 new jobs and set another five month high of employed at almost 16.9 million. The momentum for hiring has definitely picked up African American optimism as the labor force increased by over 200 000, which is the reason the unemployment rate had such a spike. It also speaks to the fact that hiring can not keep pace with the number of African Americans seeking jobs. African American men and women are experiencing five month highs in labor force, employed, and participation rate. Unfortunately, teenagers continue their crisis with a five month low in employed population. The question is can this economy continue its recovery or as the Federal Reserve inches closer to raising interest rates will the usual adage of last hire and first fired come true once again.

HBCU Money™ Business Book Feature – Keynes Hayek: The Clash that Defined Modern Economics

41mwseI2rkL._SY344_BO1,204,203,200_

“In Keynes Hayek Nicholas Wapshott sets himself the formidable task of explaining important and abstruse ideas clearly, reliably and entertainingly. He succeeds well.” The Times Nicholas Wapshott s new book, Keynes Hayek, does an excellent job of setting out the broader history behind this revival of the old debates. Wapshott brings the personalities to life, provides more useful information on the debates than any other source, and miraculously manages to write for both the lay reader and the expert at the same time. Virtually every page is gripping, and yet even the professional economist will glean some insight… –Tyler Cowen “It [Keynes Hayek] harnesses the author’s skills as a journalist in a lucid and accessible introduction to Hayek’s work…Again, the author has done his homework in getting on top of the vast literature about Keynes…” The Guardian “His [Nicholas Wapshott’s] account of the origins and early application of the competing theories is readable, intelligent, and even-handed.” Reuters “I heartily recommend Nicholas Wapshott’s new book, Keynes Hayek: The Clash that Defined Modern Economics… Many books have been written about Keynes, but nobody else has told the story properly of his relationship with Hayek. Nick has filled the gap in splendid fashion, and I defy anybody – Keynesian, Hayekian, or uncommitted – to read his work and not learn something new.” – John Cassidy, The New Yorker

HBCU Money™ Dozen 7/28 – 8/1

2acbf2eba58ae3ad10ce2828f725edfb

Did you miss HBCU Money™ Dozen via Twitter? No worry. We are now putting them on the site for you to visit at your leisure. We have made some changes here at HBCU Money™ Dozen. We are now solely focused on research and central bank articles from the previous week.

Research

Modeling Fish on the Move l EPAgo.usa.gov/NrFG

Facebook app gives free Internet to mobile users in Zambia l CIOonline trib.al/vhSXyUc

Indian State Plans To Cover 300 Government Buildings With Rooftop Solar Power Projects l Clean Technica dlvr.it/6TyGHp

Construction Company CIO Builds a Better Business With the Cloud l CIOonline trib.al/hnzLdmI

New Study: Solar Creating Jobs, Reducing Electricity Costs l Clean Technica dlvr.it/6Tsgy9

Border crossing: 10 things to know about invasive fire ants on the march l NSF 1.usa.gov/1qvQRun

Federal Reserve, Central Banks, & Financial Departments

Chasing returns could cost investors as much as 40% over seven years l St. Louis Fed bit.ly/1lNkTa3

EXCLUSIVE: Marijuana Industry Needs a Light From credit unions and Banks l CU Journal bit.ly/UFpjJ3

African Jewelry is trending. A Kenyan company is linking up local artisans with global markets l World Bank wrld.bg/zO9GU

Why technology, not emission targets, is key to fighting climate change l World Economic Forum wef.ch/1o7V6O2

What would a collapse in China’s shadow banking system mean for the global economy? l St. Louis Fed bit.ly/1mUGIJi

The economic impact of the slowdown in creation of new firms differs across industries l Chicago Fed goo.gl/smmSJW

Thank you as always for joining us on Saturday for HBCU Money™ Dozen. The 12 most important research and finance articles of the week.

The HBCU Money™ Weekly Market Watch

Our Money Matters /\ August 1, 2014

A weekly snapshot of African American owned public companies and HBCU Money™ tracked African stock exchanges.

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $8.60 (0.00% UNCH)

M&F Bancorp (MFBP) $5.10 (0.00% UNCH)

Radio One (ROIA) $4.30 (1.15% DN)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  238.30 (0.05% DN)

Botswana Stock Exchange (BSE)  9 258.30 (0.05% DN)

Ghana Stock Exchange (GSE)  2 300.35 (7.23% UP)*

Nairobi Stock Exchange (NSE)  153.18 (N/A)

Johannesburg Stock Exchange (JSE) 50 917.78 (0.93% DN)

International Stock Exchanges

New York Stock Exchange (NYSE) 10 663.18 (0.51% DN)

London Stock Exchange (LSE)  3 559.02 (0.74% DN)

Tokyo Stock Exchange (TOPIX)  1 281.30 (0.63% DN)

Commodities

Screen Shot 2014-08-01 at 11.50.31 AM

The HBCUpreneur Corner™ – Florida A&M’s Makya Renée & Mareta Creations

MaretaCreations-Logo

Name: Makya Renée

Alma Mater: Florida A&M University

Business Name & Description: Mareta Creations; specializing in Fine Invitations, Corporate Design, Photography, and Graphic Snob® Apparel

graphicsnob-profilepic-1

What year did you found your company? 2005

What has been the most exciting and/or fearful moment during your HBCUpreneur career? Most exciting AND fearful moment was participating in my first bridal show. It was the first time I took samples of my work out of my home and exposed them to complete strangers. Although I was hand-selected to participate in the show, I wasn’t sure how the public would react to my work. I was in awe of and honored by the caliber of other participating vendors and the fact the show’s executives believed I was on their same level.

What made you want to start your own company? An internal desire to create while calling my own shot. To pursue what I was passionate about without any restrictions. To see my clients smile and know that I had a part in that. This is happiness to me.

Who was the most influential person/people for you during your time in college? My mentor Wallace W. Johnson, the first person to give me a job and expose me to the field of graphic design.

How do you handle complex problems? I always strive to have a plan – and a plan to back-up the back-up plan. I remain calm, pray without ceasing, research, and take things one day at a time. I demand more of myself than anyone else, but recognize when I need help and humble myself to accept it. I don’t tolerate stress or drama, so once addressed, I keep it moving.

What is something you wish you had known prior to starting your company? I wish I knew that although you should be passionate about your profession and have a desire to serve others, you must also have a desire to serve and protect yourself. Several people will take advantage of you if you allow them to, so it is extremely important to establish business policies, practices, and boundaries that allow you to serve your clients while protecting yourself. Business relationships are a lot like personal relationships and if you don’t ensure that you receive a return on your investment of time, talent, effort, and energy, you will get burned out and be unable to serve anyone.

What do you believe HBCUs can do to spur more innovation and entrepreneurship while their students are in school either as undergraduate or graduate students? I believe each program offered at HBCUs should offer business-centered courses that align with their respective fields. Learning and practicing how to develop contracts; research industry rates and set pricing; interact with clients, vendors, sub-contractors; network with other industry professionals and professional organizations; brand and market company services; and apply ethics to ensure longevity as it relates to that field will spur more innovation and entrepreneurship among HBCU college students. Successful entrepreneurial alumni should be encouraged to return and address students on a consistent basis to provide insight and exposure. Unfortunately, black students as a whole aren’t encouraged to work for themselves as much as students of other cultures and don’t have the opportunity to observe many successful black-owned business. If we don’t pass these experiences down and encourage this option for our children, this cultural and economic divide will continue for generations to come.

African American banks struggle to attract African American small and start-up businesses. Is there something you believe that can be done to improve the relationships between African American business institutions? Exposure and marketing. African-American banks should establish relationships with HBCUs and target entrepreneurially- minded students through speaker series and event sponsorship. People can’t seek relationships and opportunities they don’t know exist. You have to meet people where they are, and HBCUs are the best breeding grounds for future entrepreneurs of color.

How do you deal with rejection? As an Architecture major (initially) and a Graphic Design major, critiques were a daily part of my training in undergrad. I learned at a young age how to separate my personal value from the opinions of others. Everyone has different taste and I put more emphasis in trying to capture my clients’ style than trying to force my own upon them. Therefore “rejection” to me isn’t personal, its merely a statement that I need to do a better job of learning my client and communicating their vision.

When you have down time how do you like to spend it? Travel and spend time with friends. I hardly ever watch TV or go the movies, so a day of vegging out and catching up on Scandal is always nice as well.

MakyaRenee

What was your most memorable HBCU memory? SGA Bus Trips! FAMU’s SGA, Presidential Ambassadors, and Royal Court traveling to cities all over the country to support our football team, host recruitment fairs, and represent our beloved university to prospective students. These trips bonded us for life and gave me the best network an HBCU graduate could ever have -Priceless!

In leaving is there any advice you have for budding HBCUpreneurs?Do your research, align yourself with other entrepreneurs, build plans knowing there is always a “subject to change” footnote. Pray about your passions and ask the Lord to guide you where He wants you to be. He will place people in your path who will help you get there and you will have joy working in your purpose. Remain humble and accept help from people who have a genuine desire to help you. No one makes it to where they need to be alone. Be patient with yourself and your dream, but set milestones to encourage yourself along the way. Be slow to take offense, but know when to end the pursuit of certain opportunities and clients that drain you. A sinking ship saves no one.

Fear will be something you constantly have to overcome. Don’t be afraid to make a “wrong” decision as long as you know how to follow up with a decision to correct it…for this is how you learn what works and doesn’t work. Not everyone has the stomach for entrepreneurship life, but you have to learn how to listen to and follow your gut. There will be periods of discomfort, but as long as you apply commonsense and wisdom, they won’t last forever. Align your sights as best you can and pull the trigger. The only way to test your wings is to jump, but make sure your wings are in the best condition before you do.

HBCU MONEY™ wants to sincerely thank Ms. Makya Renée for taking the time with us here at The HBCUpreneur Corner™.