Black workers earn less than their white counterparts in a worsening trend that holds even after accounting for differences in age, education, job type and geography, Federal Reserve research shows.
In 1979, the average black man in America earned 80 percent as much per hour as the average white man. By 2016, that shortfall had worsened to 70 percent, according to research Tuesday from the San Francisco Fed, which found the divide had also widened for black women.
“Especially troubling is the growing unexplained portion of the divergence in earnings for blacks relative to whites,” San Francisco Fed research director Mary Daly and her fellow authors wrote in the report, adding that this could owe to hard-to-measure factors including discrimination or school-quality differences.
The San Francisco Fed’s study marks a growing focus by the U.S. central bank on inequality and the lagging employment performance of U.S. minorities.
Tyson Foods, the biggest U.S. meat processor, said Tuesday that it would build a $320 million poultry complex in eastern Kansas to meet higher consumer demand for chicken. Tyson said the new unit, which will produce prepackaged trays of chicken for grocery stores, would begin production in mid-2019. The unit would employ about 1,600 people, Tyson said. Tyson said in August that it was finding it difficult to meet the increased U.S. demand for fully cooked chicken and raw meat.
Amazon.com on Tuesday launched Brown Sugar, a subscription video-on-demand service featuring what it calls the biggest collection of the “baddest” African American movies for its prime members. Prime customers would receive a seven-day free trial to access the service at BrownSugar.com and on other devices, paying $3.99 per month thereafter, Amazon said in a statement. Brown Sugar is run by African American TV network Bounce. (Amazon chief executive Jeffrey P. Bezos owns The Washington Post.) Lenovo will pay $3.5 million and change how it sells laptop computers in a settlement reached with federal officials and 32 states. The agreement announced Tuesday settles allegations that Lenovo sold devices with preloaded software that made users’ personal information vulnerable to hackers. The VisualDiscovery software was installed on hundreds of thousands of laptops to deliver pop-up ads to consumers. Under the deal, Lenovo will now obtain users’ consent to use the software and provide a way for users to opt out, disable or remove it.
— From news reports
8:30 a.m.: Commerce Department releases international trade data for July.
10 a.m.: Institute for Supply Management releases its service sector index for August.
2 p.m.: Federal Reserve releases Beige Book.