The recession has had significant effects on Asian Americans. We previously noted the increase in unemployment rates.
According to the Census' American Community Survey, the Asian American fall in homeownership exceeding those of any other group. While Asian Americans own their homes at rates higher than that of other communities of color, their homeownership rate dropped below 60%, a fall of 1.3%. For Blacks, Latinos, and Whites, the rates fell 0.9%, 0.8%, and 0.4%, respectively. The reasons for this decrease are not clear.
The financial company, Citigroup, which the government bailed out for $45 billion wants to pay out a $110 million bonus -- to one guy named Andrew Hall.
This is the same Citigroup that received $45 billion in bailout money. The same Citigroup that will soon be 34% owned by the U.S. government. The same Citigroup that has lost 95% of its share value since 2007.
In another sign of the recession, the Asian population grew by 2.7 percent annually, a slight decrease from the year before. These figures were down sharply from the beginning of the decade, when Asian population grew by 3.7 percent, according to an analysis by the Population Reference Bureau.
On July 17, the California legislature approved a bill apologizing to the state's Chinese-American community for racist laws enacted beginning in the midâ€“19th century Gold Rush era. The laws barred Chinese from owning land or property, marrying whites, attending public schools, holding government jobs and testifying against whites in court. Localities also levied additional taxes and restrictions on Chinese enclaves. The resolution also recognizes the contributions Chinese immigrants have made to California, particularly their work building the Transcontinental Railroad.
Asian American unemployment jumped from 6.7% to 8.2% (not seasonally adjusted) from May to June. While Asian Americans in the last several years have had the lowest unemployment rates of all the racial groups, their unemployment rates are now approaching those of Whites, whose comparable June unemployment rate was 8.8%. For Blacks and Hispanics, the comparable June rates were 15.3% and 12.1%.
The Justice Department has decided not to appeal of a judge's decision that the Army could not retrying Lt. Ehren Watada of major charges . Ehren Watada had refused to go to Iraq, and characterizing the Iraq war as illegal. The Army can still try or penalize him on other charges. Lt. Watada remains at a desk job at Fort Lewis in Washington State.
City Councilor Sam Yoon announced that he intended to run for Mayor of Boston. While many were supportive, here were some other comments posted on the websites of Boston’s two major papers, the Boston Globe and the Boston Herald in the two days since the article ran. We may not quite live in a post-racial society.
The Asian American Legal Defense and Education Fund (AALDEF), reported that Asian American voters continued to face obstacles to voting. Based upon its work at 172 poll sites in nine eastern states around the November 2006 elections, AALDEF published a new report on this subject.