Sunday 22nd October 2017,

Asian Americans

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Economic Scars of Great Recession Remain for Asian Americans & Pacific Islanders

posted by Randall

Economic Status of Asian Americans & Pacific Islander in the Wake of the Great RecessionA new report from the Department of Labor confirms the economic scars from the Great Recession of 2007 to 2009 remain still today in the Asian American and Pacific Islander community.

The report titled The Economic Status of Asian Americans and Pacific Islanders in the wake of the Great Recession breaks down the numbers within most of the Asian American and Pacific Islander subgroups. Much of the data confirms findings from other studies reported on previously by AsAmNews about educational attainment, income and unemployment.

But there is some information that was previously not revealed or not widely known.

Asian Americans are younger than the general population. 44.8 percent Asian and 40.4 percent Pacific Islander are between the ages of 25  and 54. That’s higher than the 39.6% of the general US population.

Vietnamese, “other Asian groups” and Chinese have higher high school dropout rates of 29.3, 22.3, and 18.4 percent respectively compared to 13 percent for whites.
The Asian American Pacific Islander community has the highest employment rate of any other ethnic group at 61.3 percent. Indian and Filipinos have the highest rates of employment among AAPIs at 64.9 and 64.6 percent. Japanese and Koreans have the lowest rates of employment among AAPIs with 56.3 and 57.3 percent employed.

AAPI workers are more likely to be self employed than black workers, but less likely than whites and Hispanics.

The unemployment rates of Indians is lower than that of whites, but when comparing whites and Indians with similar sex, age and educational backgrounds, the unemployment rates of Indians is actually higher.

The AAPI community has the second highest rate of long term unemployed with half of the unemployed Vietnamese Americans classified as long term unemployed. More than 40 percent of the unemployed Filipinos, “other Asians,” Japanese, Chinese & Pacific Islanders  are long term unemployed.

You can read the report in its entirety here from the Department of Labor.

Related Story: Asian Americans and Pacific Islanders Fastest Growing Segment of US Labor Force

 

 

 

 

 

 

 

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