THE OPPORTUNITY GAPS
At the U.S. Chamber, we are committed to helping businesses create jobs and grow the economy. Through this initiative, we are focused on bridging opportunity gaps in four key areas: education, employment, entrepreneurship, and the criminal justice system—all of which perpetuate broader inequities in society and hold back individual and business success and economic growth.
EMPLOYMENT
The unemployment rate is historically about twice as high for Black Americans as white Americans, and today, less than half of Black adults have a job – trends that have been exacerbated by the pandemic and corresponding economic fallout, according to recent analysis.
ENTREPRENEURSHIP
Black Americans are underrepresented among business owners, and black-owned companies are on average significantly smaller by employee size and revenue than white-owned businesses. Importantly, research shows black-owned businesses struggle to access funding and thus start their businesses with less capital than white entrepreneurs.
EDUCATION
All other factors held equal, the gap in educational opportunities and achievement between Black Americans and other groups is substantial. While Black Americans are catching up to white Americans in terms of high school graduation and college enrollment, there has been less progress in closing degree attainment and skill acquisition gaps.
In 2019, for example, 29% of the Black American population aged 25 to 29 held a bachelor’s degree or higher, compared to 45% of the white population in the same age range.
CRIMINAL JUSTICE
Previously convicted Americans receive insufficient preparation and inadequate assistance and resources, making re-entry into communities challenging.
A criminal conviction limits eligibility for things like public housing and social services, and studies show that the most significant challenge they face is re-entering the labor market and finding employment. These challenges disproportinately hurt Black Americans and predominantly Black communities.
