CBX Daily 1/5/2024

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CultureBanx Team
January 05, 2024

Today workplace disparities continue to expose women to economic hardships, but let’s start with the race employment gap for boomers that seems to be closing in…

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Why The Race Gap In U.S. Employment Is Fading For Workers 65+

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While progress has been made in closing the race gap in employment, there are still areas where disparities persist. One area of interest is the employment of workers aged 65 and over. In the last 10 years, the gap in the Black-white employment-to-population ratio, which measures the share of all employed workers out of the total working-age population, has diminished from 1.3 to 0.8 in this age group.

Are Workplace Disparities Causing Economic Hardships For Black Women?

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Who runs the world? Girls! While this is not exactly a secret, what’s happening behind-the-scenes shows that not all the girls are having fun. Black women are still not receiving their fair dues in compensation for running the world or the economy. Unfortunately, 71% of Black women say they live paycheck to paycheck, compared to 63% of the U.S. population. They also disproportionately fewer have health insurance coverage through an employer, retirement savings plans and paid sick leave. This is not a sustainable way of life for Black women in the workforce, especially since capitalism appears to profit from their pain.

Artificial Intelligence Is Leaping From Hype In 2023 To Utility In 2024 

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In 2023, artificial intelligence (AI) leapt from the realms of hype into the hands of real-world users, marking a new chapter in its evolution. This shift was catalyzed by advancements in generative AI, capturing the attention and capital of investors who envisioned a seismic change in our digital ecosystem.Bloomberg Intelligence projected an AI market boom from $40 billion in 2022 to $1.3 trillion by 2032, with the technology becoming the backbone of various sectors, from coding enhancements to infrastructure development. 

Should Your New Year's Resolution Be To Own A Gym, Not Just Go To One?

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The most popular resolution is getting fit, but maybe it should be growing your wealth. When it comes to the January workout warriors they are typically short lived, with 14% of them quitting by February, and 80% quitting within the first five months. However, millennials will spend over $100,000 in fitness related purchases including gym membership in their lifetime. Since $1.8 billion are spent on unused gym memberships annually, you can have a gym with little foot traffic and still make money.

Tis The Szn: Santa's Holiday Biz Levels Up At Malls

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For decades, Black families have searched for a Santa that reflects them in malls and department store chains, that are increasingly marketing holiday memories to get customers into stores. Despite the fact that St. Nick is a fictional character, Black Santa’s across the country can command nearly $400 or more per hour for their services. As the Christmas holiday rolls around again Black Santa’s remain booked, busy and sometimes hard to find. They could be the key to helping brick and mortar stores bring in more money during the season, thanks to the $1.7 trillion in spending power that African Americans possess.

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There’s a “Loop Hole” in the employment divide according to 21 Savage, get into it with our CBX Vibes!