The overall unemployment rate is 5.5%, and the rate for African Americans and Latinos is still higher than the rate for whites, coming in at 10.2% and 6.7% respectively. The unemployment rate for whites is currently 4.7%.
One effect of the ruling is that it’ll now be easier to sue an employer over an expensive 401(k) plan, turning up the legal pressure a notch.
Those expenses matter. A 2012 study by Demos, a New York City-based think tank, found that over a lifetime, 401(k) fees cost a two-earner family with a median income nearly $155,000 — and consume nearly one-third of their investment returns.
The lack of retirement security for middle-class and low-wage workers is a growing crisis that Washington has refused to address, even though it demands immediate attention.
Credit checks are one of many barriers faced by Black job seekers; and the implicit biases of employers have proved hard to legislate. That's why New York City just joined other cities and states in banning credit checks.
