The relationship between job turnover rates and financial literacy inblack males
The job turnover andfinancial literacy in the United States depends on family financialbackground, individual financial status, and community grouping. Itis imperative that the white individuals who join educationinstitutions that offer financial literacy are many than the AfricanAmericas. The trend is influenced by the family background especiallythe low-income earners and the minority populations. The familiesthat record high level of debt in United States statistics shows thatthey cannot make an informed decisions relating to financial issues(Thomas, 2010). Additionally, the families cannot be able to taketheir children in financial literacy institutions.
Middle-incomeearners in both the white and African American families can join theinstitutions, but the number of African American families tends toslag behind based on the fact that many are low-income earners(Charles, 2014). The whites have financial advisors who play a keyrole in guarding them the basics of finance literacy and othereconomic parameters that can be used so that they can budgetappropriately (Schaffer and Taylor, 2012). Based on the fact that thejob turnover for the African American is low, and the white color jobis not accessible to many African Americans they cannot joinfinancial literacy colleges. African American being one of theminority groups the job turnover is about 19% while for the white isabout 60% that is contributed by the low enrollment of the studentfor the African American.
The enrollment ofAfrican American to colleges is 39% while for the white is about 61%.The job turnover for the African Americans is low, and thus theycannot be able to access financial literacy programs based on thatmany are not high-income earners. There is a relationship that existsbetween the African American, who accesses financial literacy andgraduation rates. The African Americans male graduation rate thoughlow depends on the family income status (Travis and Ausbrooks, 2012).
Charles, P. (2014). Why Don’t More Advisors Look Like LazettaBraxton?: How To Address The Industry Race Problem?
Schaffer, M., & Taylor, M. (2012). Job search behaviors amongAfrican‐Americans. Journalof Managerial Psychology Journal of Managerial Psych, 814-828.
Thomas, L. (2010). Boosting Financial Literacy in America: ARole of State College And Universities. Available fromhttp://www.aascu.org/policy/publications/perspectives/financialliteracy.pdf
Travis, R., & Ausbrooks, A. (2012). EMPOWERMENTODAY: A Model ofPositive Youth Development and Academic Persistence for Male AfricanAmericans. Children & Schools, 186-189.