LBW releases Black Women’s Economic Agenda: Blackwomanomics
LBW to discuss landmark study on economic empowerment at March 10 press conference
(CHICAGO) — The League of Black Women (LBW) has released a white paper entitled, “Blackwomanomics: A Policy Framework” that lays out a Black woman’s economic agenda. The stated goal of the white paper, released during Women’s History Month, is “to reshape Black women’s future by demanding economic security, economic equality/equity and full economic access for parity across all sectors, and by claiming the right to intentional pursuit of joyful living. The group will host a press conference at the DuSable Museum on March 10 at 5:30 PM CST to further outline their agenda.
The LBW acknowledges the challenges and opportunities facing Black woman have led to this groundbreaking research. According to U.S. News & World Report African-American women are hardest hit by income equality. This was especially true during the recent Great Recession as well as through the perceived recovery. Women lag behind men in several categories related to employment, income potential, wage disparity and average wealth; these categories are further exacerbated for Black women who experience unemployment at higher rates and on average have less savings than any of the other groups. In tandem with these findings however, The Center for American Progress has noted that women of color are a growing force in the American electorate.
“Blackwomanomics” is defined as a framework for socioeconomic policies designed for intentional economic empowerment of Black women, purposed to remove and remedy the structural impediments that hamper and prevent Black women from full participation in the U.S. economy. The white paper targets specific outcomes, lays out performance measures as well as sanctions for non-compliance. Blackwomanomics has four stated pillars for action:
Pillar 1 – Economic Security
Pillar 2 – Economic Equality / Equity
Pillar 3 – Economic Access’
Pillar 4 – Intentional Pursuit of Joyful Living
Each pillar is accompanied by a list of recommendations and amendments/enforcement mechanisms to existing polices.
The pillars address key issues including increasing the minimum wage, increased funding for entrepreneurial endeavors, systemic change in corporate culture and changes in health care, social security and educational policies.
“Black women stand at the convergence of racism and sexism and all the accompanying derived ill effects, says Sandra Finley, President & CEO of the LBW. The Black Woman’s Agenda heralds a new era in which the U.S. economy can no longer operate as a plantation with Black Women as marginalized share-croppers.”
The Black Women’s Economic Agenda is the fourth research paper presented by the organization, the first documented “Experiences of Black Women in the Workplace”. The white paper, released in February, is drawn from from research culled from social justice organizations, socioeconomic research centers and news media center. It was complied by researcher Monica Faith Steward