CLEVELAND (April 10, 2023) – There is a concerted effort to close the racial wealth gap in Cleveland, driven by organizations such as the Urban League of Greater Cleveland (Cleveland, OH).

According to Michael Obi, the president of UBIZ Venture Capital at the Urban League, notes that the wealth gap is about income. With that reasoning, there are various ways to have individuals increase their income potential, such as education, employment, and entrepreneurship.

The area that Obi has started to focus on is entrepreneurship, as he says, “The wealthiest Americans ae usually the people that create jobs.”

Celebrating Ramadan, Easter, and Passover! From our Urban League family to yours, we wish everyone a happy + safe season of prayer and reflection. | A historic trip to Ghana. Marc H. Morial served among the delegation that traveled with VP Harris to promote democracy and economic cooperation. | The clock is ticking! We’re one week away from the release of the 2023 State of Black America® report. Stay tuned and sign up for updates. | Let’s talk Long COVID. For some people who contract COVID-19, the symptoms do not immediately go away. Here are some tips to stay safe. | Measuring the Movement. Our President & CEO Marc H. Morial will be a speaker at the National Action Network Convention on April 15th. Learn more. | Second Chance Month. Re-entering the workforce can be challenging, but we’ve created a program to help people adjust to their new normal. | Freedom to Learn campaign. Read more about how we’re fighting back against the erasure of Black history, critical race theory and much more. | What do the numbers tell us? Dr. Bernard Anderson, our Chief Economics Adviser, shares an in-depth look at the state of the economy. Check it out.

Dr. Bernard E. Anderson
Whitney M Young, Jr. Professor Emeritus, The Wharton School, University of Pennsylvania
Senior Economic Advisor, National Urban League

Private employment growth in March was weaker than expected; with 236,000 jobs added and most industries showed little or no change in employment. 

Wage growth reflected a gradual easing of tight labor markets, though the job opening/available worker gap remained large. . Fewer employers are raising wages to retain labor and attract new employees.  Some firms in the technology industry have laid off or are planning to pay off about 10 thousand workers. At the same time, the leisure/hospitality industry and health care are vigorously seeking employees. Overall there are about one million more jobs open than workers seeking employment.
The Black unemployment rate sank to the lowest point on record in March, 5%, shrinking the Black/white ratio to 1.56:1

Marc H. Morial 
President and CEO
National Urban League
 

“It is your spark, your creativity, and your determination that will drive the future.  And with that then, African ideas and innovations will shape the future of the world.  And so we must invest in the African ingenuity and creativity, which will unlock incredible economic growth and opportunities, not only for the people of the 54 countries that make up this diverse continent, but for the American people and people around the world.” – Vice President Kamala Harris, address to Ghanian youth

Africa is home to more than 1.4 billion people, whose median age is 19.

By 2050, one in four people on Earth will be on the continent.  Peace and stability in Africa are vital to peace and stability in the rest of the world.

National Urban League, National Action Network, NAACP, National Coalition on Black Civic Participation, Lawyers’ Committee for Civil Rights Under Law, NAACP Legal Defense and Educational Fund, Inc. (LDF), The Leadership Conference on Civil and Human Rights, and National Council of Negro Women: “Together We Stand Against Fearmongers” 

WASHINGTON, D.C.