Happy Asian American and Pacific Islander Heritage Month!
Happy May! This month we celebrate the contributions and history of Asian Americans and Pacific Islanders throughout the years. This week is also Cinco de Mayo, a celebration commemorating the Mexican Army's win at the Battle of Puebla.
Remember, you can find all previous newsletters located under the blog section of our website!
ICYMI: The Masks We Wear: Covering Race And Identity At Work
Finding a company where you don’t have to cover parts of your identity can be done, but it does take work. Check out our previous article in HuffPost on the lack of diversity in corporate leadership and navigating as an employee.
Read the full article here.
3 Stats You Need to Know About Asian Americans in the Workplace
The month of May is Asian American and Pacific Islander Heritage Month. According to the recent census, there are over 18.9 million Asian Americans living in the United States. Unfortunately, due to rhetoric by former President Donald Trump, we saw a 150% rise in attacks on Asian Americans during the first quarter of 2021. #StopAsianHate rose as a call to action to combat xenophobic ideologies and hate crimes against the Asian community. We wanted to share some staggering statistics to bring light to the challenges Asian Americans face in the professional space.
Asians account for only 3% of Fortune 500 Companies despite having higher education - Fortune
According to a study conducted by DiversityInc, "Asian Americans are twice as likely to have a bachelor's or graduate degree than most Americans. Their median income is 38 percent higher than all Americans." However, there is still a lack of Asian diversity in the C-suite. Asian Americans tend to fall into the stereotypes of being hard workers and model minorities, making them subject to receiving more work but not making it to the C-Suite level.
There is significant harm in the model minority stereotype, and poverty levels are almost triple for Bangladeshi, Burmese, and Cambodians. - AAPI Data
By placing Asian Americans within the realm of only being successful, you are damaging other community members. NBC News says, "Asian Americans of lower socioeconomic status don't fit the model minority stereotype and are more likely to work in low-wage industries such as restaurants, salons, housekeeping and factories, which can make them more vulnerable." To lower these perceptions and impact the workforce, we must change our thinking, media, and conversations.
Asian American women had the highest unemployment rates during the last six months of Covid. - NBC News
According to a National Women's Law Center report, 44% of unemployed Asian American women have been out of work for six months or more, compared to Black women at 40%, Latina women at 38.3%, and all women at 38.6%. Although 1 in 4 Asian American women work in industries that were directly impacted by COVID-19, other factors contributed to their unemployment rates.
The report further states, "The increase in discrimination against Asian Americans has manifested financially and commercially as customers, employers and co-workers base their economic behavior on discrimination. Anecdotal evidence demonstrates that Asian American businesses, particularly those in ethnic enclaves, have experienced the labor-market impact of Covid-19 earlier and more deeply because of the racialized blaming." For more resources about statistics, allyship, and ways to donate, visit the Anti-Asian Violence Resource Card.
Register for Black Enterprise's Inaugural 40 Under 40 Summit
