Today, another edition of Midday on Business, with some interesting perspectives on Baltimore's employment marketplace.
The city's overall unemployment rate has been steadily declining over the past decade. It’s currently at 4.2 percent, down from a high of 11.8 percent in 2010 at the height of the financial crisis. By that measure, the city lags only slightly behind the Maryland and national average of 3.5%, but when viewed through the prism of racial equity, the city’s employment picture is less encouraging.
According to a recent report by Associated Black Charities, African American workers in Baltimore City are largely employed in lower-wage industries and occupations, they tend to earn less than their white counterparts, and they experience higher job turnover. African Americans own nearly half of all businesses in Baltimore, but they employ only 2% of the city’s paid employees and account for only 1.4% of all sales.
Joining Tom in the studio are two men whose innovative private companies are working to change those workforce dynamics, here in Baltimore and around the country...
Jacob Hsu is the CEO of Catalyte, a firm that finds people with a hidden talent for technology.
Jason Green is a co-founder, senior vice-president and general counsel of SkillSmart US, a national enterprise that helps companies connect with local talent to create diverse and productive workforces.
We livestreamed this conversation onWYPR's Facebook page. Watch the video here, starting at 08:45 and continuing to the end of the feed.