NAACP Economic Department TENNESSEE NAACP STATE CONFERENCE SATURDAY, SEPTEMBER 20TH, 2014 DEDRICK ASANTE-MUHAMMAD SENIOR DIRECTOR OF ECONOMIC DEPARTMENT NAACP FINANCIAL FREEDOM CENTER

The Economic Foundation of the NAACP Springfield, Illinois was a rapidly-growing industrial center at the turn of the century Fierce job competition and the use of black workers as strike breakers during labor strikes caused increased tension An attack by a white mob against the black section of Springfield spurred the creation of the NAACP The Springfield Race Riot of 1908 NAACP ECONOMIC DEPARTMENT 2

Economic Justice was the foundation of 1960’s Social Justice Movement Goals of The Freedom Budget 1. Abolition of poverty 2. Full employment 3. Full production / high economic growth 4.Adequate minimum wage 5. Farm income parity 6. Guaranteed income for those who can’t work 7. Decent homes for all 8. Modern health services for all 9. Full educational opportunity for all 10. Better social security and welfare 11. Equitable tax and money policies NAACP ECONOMIC DEPARTMENT 3

Employment This unemployment rate hides the larger number of African Americans not working full time or “marginally” attached to the workforce, this is normally about twice the unemployment rate. As many as 27% of African Americans between the ages of 20 and 24 are not employed or in school. NAACP ECONOMIC DEPARTMENT 4 For the last 50 years, in good times and bad, African Americans have had about twice the unemployment of whites.

Little Advance in Income Equality NAACP ECONOMIC DEPARTMENT 5

What Happened? The Great Regression NAACP ECONOMIC DEPARTMENT 6

The Economics of America’s Promise NAACP ECONOMIC DEPARTMENT 7

Racial Income Inequality and the Great Recession  1977 to 2007 only about a 1% increase in Black / white income equity to 2009 Black / white income inequality is increasing. NAACP ECONOMIC DEPARTMENT 8

The Great Recession & The Racial Wealth Divide NAACP ECONOMIC DEPARTMENT 9

The Wealth Divide in the United States 60% of America doesn’t even have 5% of the nations wealth while the wealthiest 20% has over 80% of the nations wealth. NAACP ECONOMIC DEPARTMENT 10

NAACP Economic Department NAACP ECONOMIC DEPARTMENT 11 Economic Sustainability A chance to live the American Dream for all. Every person will have an equal opportunity to achieve economic success, sustainability, and security. NAACP Economic Game Changer

NAACP Economic Department NAACP ECONOMIC DEPARTMENT 12

NAACP Economic Department Financial Educatio n Fair Lending Diversity & Inclusion Community & Economic Development NAACP ECONOMIC DEPARTMENT 13

Economic Education  Facilitates events around the country to educate local and state conference NAACP units on financial education topics  Provides grants to individuals to perform financial education at the local level NAACP ECONOMIC DEPARTMENT 14

Fair Lending  Monitors state and federal policy related to mortgage, auto, payday, and small dollar bank lending  Performs analysis of Home Mortgage Disclosure Act (HMDA) for evidence of discrimination at the lender level  Meets with bank partners around fair lending issues, products, and initiatives to reduce the un- and under-banked population  Researches and evaluates data and reports to determine impact on racial inequality NAACP ECONOMIC DEPARTMENT 15

COMMUNITY ECONOMIC DEVELOPMENT The Community and Economic Development Program establishes asset development infrastructure in communities of color leveraging the NAACP network and resources. NAACP ECONOMIC DEPARTMENT 16 Wealth Creation Strengthening Community Assets Job Development

Diversity and Inclusion 1.Opportunity and Diversity Report Cards grade industries based on the strength of their workforce and supplier diversity. 2.NAACP and Dunkin Brands have partnered to strengthen diversity in franchising 3.The Professional Development Network (PDN) powers the NAACP JobFinder 4.NAACP works with the United Negro College Fund (UNCF) to provide paid summer internships to students attending HBCU’s at Wall Street investment banks. 7 NAACP ECONOMIC DEPARTMENT

NAACP Job Resources: Job Finder to find the next job fair or the opportunities posted on the website. 18 NAACP ECONOMIC DEPARTMENT

19 Financial Freedom Campaign Media Presence

Economic Opportunity Website: NAACP.org/econ The Economic Opportunity homepage includes information and resources on our economic programs. NAACP ECONOMIC DEPARTMENT 20

NAACP Economic Partnerships NAACP ECONOMIC DEPARTMENT 21

State Economic Chair Presentation Information on micro- grant award. Proposed projects for Interaction with local units: ◦What economic issues have you seen occurring in your area? ◦What plans do you have to address these issues? NAACP ECONOMIC DEPARTMENT 22 State Conference and Local Unit Brainstorming Session

STAY IN TOUCH WITH THE NAACP ECONOMIC DEPARTMENT 23 Visit NAACP.org/econ and sign up for The Angle newsletter Apply to become a Financial Freedom Campaign Micro-Grantee (State Conferences) Like us at Financial Freedom Campaign on Facebook Follow on Twitter Text Econ to for Mobile Updates Read The Crisis at thecrisismagazine.com the Economic Department at Call us at NAACP ECONOMIC DEPARTMENT

Thank You, Questions? DEDRICK ASANTE-MUAHMMAD SENIOR DIRECTOR OF THE ECONOMIC DEPARTMENT FINANCIAL FREEDOM CAMPAIGN ON FACEBOOK