Asian Americans Coping Better with Brutal Recession
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High educational levels, a strong work ethic and close family ties are helping Asian Americans cope much better than whites, Hispanics or blacks during these harsh recessionary conditions which currently characterize the US economy.
USAToday: The recession has been brutal for just about every segment of the population, but though the unemployment rate for Asian Americans has been inching upward, it has been far lower than the rates for whites, blacks, Hispanics or the nation as a whole. Among those groups, Asian Americans have had the lowest jobless rate every month since 2000, when the Bureau of Labor Statistics began tracking monthly unemployment among Asians.
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The unemployment gap — 7.5% for Asians in October, compared with 10.2% nationwide — stems from a combination of education benchmarks and cultural traditions that foster family support when someone is out of work, researchers say.
Posted by Editor
on Nov 16 2009. Filed under Latest News, NATIONAL.
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