It still sucks to be unemployed.
This article mentions the “cultural factors” that moderate the effects of the recession on Asian Americans. In October, the unemployment rate for Asian Americans was 7.5 percent vs. 10.2 percent overall.
High levels of education, larger households, family ties, less risky jobs and disapproval of unemployment are mentioned as some of the reasons for the disparity.
The differences in education are huge:
About 30% of Asians 25 and older have a bachelor’s degree and almost 20% have a graduate degree, compared with 17% and 10% for the nation overall. All other groups have a smaller share of college graduates: 18% of whites have a bachelor’s degree and 11% a more advanced degree; 12% and 6% of blacks; 9% and 4% of Hispanics.
Asian Americans still typically earn less than whites in comparable job positions. And we face discrimination in hiring. Easy to fall into that “model minority” trap. And to think that our community doesn’t need help because we already have it made.