African America’s March Jobs Report – 8.0%


Overall Unemployment: 4.5% (4.7%)

African America Unemployment: 8.0% (8.1%)

Latino America Unemployment: 5.1% (5.6%)

European America Unemployment: 3.9% (4.1%)

Asian America Unemployment: 3.3% (3.4%)

Previous month in parentheses.

Analysis: Overall unemployment dropped 20 basis points. All groups saw a decline, led by Latino America with 50 basis points.

African American Male Unemployment: 8.2% (7.8%)

African American Female Unemployment: 6.6% (7.1%)

African American Teenage Unemployment: 24.3% (24.3%)

African American Male Participation: 68.1% (67.8%)

African American Female Participation: 62.7% (62.7%)

African American Teenage Participation: 27.7% (30.0%)

Analysis: African American males saw an increase of 40 basis points, while females saw a decrease of 50 basis points in unemployment rates. African American teenagers saw a decrease of 230 basis points in their participation rate, the lowest number in the past five months.

CONCLUSION:  The overall economy added 98 000 jobs in March. A grave disappointment from the 235 000 jobs added in February and approximately half of the 180 000 many economist expected. Many will point to two major stumbling blocks in the economy right now being lack of tax cuts and infrastructure build that would provide stimulus to the economy. It is worth noting that over the past month, ETF indexes that short each of the major indexes have been begun to trend upward. A sign that the air maybe coming out of one of the longest bull runs after a recession in history.

African America currently needs 693 000 jobs to match America’s unemployment rate. An decrease of 45 000 from February.

 

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HBCU Money™ Business Book Feature – Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley


An NPR Best Book of the Year

“Incisive…. The most fun business book I have read this year…. Clearly there will be people who hate this book — which is probably one of the things that makes it such a great read.”
— Andrew Ross Sorkin,
 New York Times

“Eye-popping.”
— Vanity Fair

Liar’s Poker meets The Social Network in an irreverent exposé of life inside the tech bubble, from industry provocateur Antonio García Martínez, a former Twitter advisor, Facebook product manager and startup founder/CEO.

The reality is, Silicon Valley capitalism is very simple:

Investors are people with more money than time.

Employees are people with more time than money.

Entrepreneurs are the seductive go-between.

Marketing is like sex: only losers pay for it. 

Imagine a chimpanzee rampaging through a datacenter powering everything from Google to Facebook. Infrastructure engineers use a software version of this “chaos monkey” to test online services’ robustness—their ability to survive random failure and correct mistakes before they actually occur. Tech entrepreneurs are society’s chaos monkeys, disruptors testing and transforming every aspect of our lives, from transportation (Uber) and lodging (AirBnB) to television (Netflix) and dating (Tinder). One of Silicon Valley’s most audacious chaos monkeys is Antonio García Martínez.

After stints on Wall Street and as CEO of his own startup, García Martínez joined Facebook’s nascent advertising team, turning its users’ data into profit for COO Sheryl Sandberg and chairman and CEO Mark “Zuck” Zuckerberg. Forced out in the wake of an internal product war over the future of the company’s monetization strategy, García Martínez eventually landed at rival Twitter. He also fathered two children with a woman he barely knew, committed lewd acts and brewed illegal beer on the Facebook campus (accidentally flooding Zuckerberg’s desk), lived on a sailboat, raced sport cars on the 101, and enthusiastically pursued the life of an overpaid Silicon Valley wastrel.

Now, this gleeful contrarian unravels the chaotic evolution of social media and online marketing and reveals how it is invading our lives and shaping our future. Weighing in on everything from startups and credit derivatives to Big Brother and data tracking, social media monetization and digital “privacy,” García Martínez shares his scathing observations and outrageous antics, taking us on a humorous, subversive tour of the fascinatingly insular tech industry. Chaos Monkeys lays bare the hijinks, trade secrets, and power plays of the visionaries, grunts, sociopaths, opportunists, accidental tourists, and money cowboys who are revolutionizing our world. The question is, will we survive?

The Finance & Tech Week In Review – 4/8/17


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.

Ford made a crib to trick your baby to sleep / Mashable on.mash.to/2oS5grh

Oldest tooth filling was made by an Ice Age dentist in Italy / New Scientist newscienti.st/2o75Pxp

Octopus, squid and cuttlefish don’t always follow the rules laid out in their DNA / Science News ow.ly/4lbT30aG9Wz

World’s fastest elevator speeds up to super-high view, super quick / New Atlas newatl.as/2o4XGJG

New computer vision challenge wants to teach robots to see in 3D / New Scientist newscienti.st/2nTHs5p

These universities are poised to overtake Harvard and Cambridge / WEF  wef.ch/2okJSue

This is how much you need to earn to be in the top 1% of every #US state / WEF wef.ch/2p4xMoV

As home equity loans rise, here’s the latest pulse on delinquencies / Housing Wire ow.ly/z06u30aGdCc

American women in the labor force is slipping even as it rises in the rest of developed world. / Richmond Fed ow.ly/pfhO30aFvug

Roots of autocracy / NBER bit.ly/2o6elfS

HBCU Money™ Business Book Feature – The World Is Flat


When scholars write the history of the world twenty years from now, and they come to the chapter “Y2K to March 2004,” what will they say was the most crucial development? The attacks on the World Trade Center on 9/11 and the Iraq war? Or the convergence of technology and events that allowed India, China, and so many other countries to become part of the global supply chain for services and manufacturing, creating an explosion of wealth in the middle classes of the world’s two biggest nations, giving them a huge new stake in the success of globalization? And with this “flattening” of the globe, which requires us to run faster in order to stay in place, has the world gotten too small and too fast for human beings and their political systems to adjust in a stable manner?

In this brilliant new book, the award-winning New York Times columnist Thomas Friedman demystifies the brave new world for readers, allowing them to make sense of the often bewildering global scene unfolding before their eyes. With his inimitable ability to translate complex foreign policy and economic issues, Friedman explains how the flattening of the world happened at the dawn of the twenty-first century; what it means to countries, companies, communities, and individuals; and how governments and societies can, and must, adapt. The World Is Flat is the timely and essential update on globalization, its successes and discontents, powerfully illuminated by one of our most respected journalists.

The Finance & Tech Week In Review – 3/25/17


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.

What’s the secret to success? Be nicer to yourself / WEF wef.ch/2ndGqUv

Is R&D Getting Harder, or Are Companies Just Getting Worse At It? / Harvard Biz ow.ly/3sxx30aeOwo

Value of housing market hits 10-year high / Housing Wire  bit.ly/2mZzAxY

The state of women in the credit union movement / CU Journal  ow.ly/KMIa30aeN3w

Per capita auto and student debt rose in fourth quarter of 2016, but at a slower pace / St. Louis Fed bit.ly/2n7sB7M

Cancer cells cast a sweet spell on the immune system / Science News ow.ly/bJiW30aeM0H

Science-backed benefits of marine reserves / Pew Environment pew.org/2kwUYhO

Refillable vest offers last-mile wearable transport for clean water / New Atlas newatl.as/2n2pIUX

Drone dogfight event aims to draw out the best drone safety tech / New Atlas newatl.as/2mzAqWJ

Equipping #youth in agriculture with #innovative technologies / SciDev bit.ly/2nkNePm