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Black Owned Businesses Fastest Growning Segment of U.S. Economy

Black-owned firms grew faster — both in number and sales — than U.S. firms did as a whole over a five-year period, according to the latest data available from the Census Bureau.

The number of black-owned businesses increased 60% between 2002 and 2007, more than three times the growth seen among all firms, according to the Census Bureau’s business owners survey. Meanwhile, sales jumped 55%, vs. 34% for all businesses.

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Unemployed or underemployed: College educated families are becoming the new poor

Come Christmas dinner, Rolanda McCarty, a 36-year-old single mother, usually goes all out.

Her table last year featured a rosemary-and-oil rubbed turkey and a sweet ham. She prepared fresh collard greens according to her grandmother’s recipe. The dessert — a rich butter pound cake — was made from scratch.

But after being laid off from her technical recruiting job in January because of the struggling economy, there will be no fancy holiday feast, no family members pouring into her downsized one-bedroom apartment. She will rely on what she has: canned vegetables and microwavable meals from her community food bank.