An abysmal 6% of new corporate hires were White in the post-George Floyd era
Bloomberg News reported that during the year after the Black Lives Matter protests (2020 to 2021), just 6% of new hires at S&P 100 companies were White. In contrast, 94% of new corporate jobs went to people of color (Data derived from EEO-1 reports). During that time frame, corporations increased their workforce by 323,094, including 302,570 new jobs for people of color but only 20,524 for Whites. There was even a net decline of 18.8k Whites in less senior roles, though some White growth in upper management and professional roles. Also 68.5% of those impacted by corporate downsizing were White.
As woke neoliberals, Bloomberg News seems supportive of these changes, implying that corporate America did good in living up to their promises for equity. It is remarkable how blatant the article is in practically admitting that corporate America flat out refused to hire White people, vindicating White identity grievances. However, the conservative Daily Wire has a rebuttal, claiming that Bloomberg fudged their data by only using S&P 100 companies, and that the White share for total hires was more likely 46%, which is a more modest underrepresentation from about 54% of the total workforce. This is because a lot of Whites were hired by small to medium-sized businesses. The Daily Wire also pointed out that Bloomberg’s net numbers count the large numbers of White boomers who retired during the pandemic, rather than just layoffs. Regardless, more and more of the economy is made up of Fortune 500 companies, so it is legit to focus on these companies’ hyper-discriminatory hiring practices.
Bloomberg also reported that about half the firms in the S&P 100, “including Amazon.com Inc., PepsiCo Inc., Meta Platforms Inc. (then Facebook) and Microsoft Corp., set ambitious targets for increasing their share of people of color in leadership. Amazon set out to double Black vice presidents and directors; Microsoft pledged to double Black managers and senior leaders in the US by 2025.” The least Whites S&P 100 Companies are Qualcomm (30% White, 62% Asian), McDonald’s (31% White), Amazon (33% White) Nike (36%), Visa (36%), Meta (38%), NVidia (40%), Gilead (40%), Alphabet (45%), Apple (45%), Intel (45%), JP Morgan (46%), PayPal (46%), Costco (47%), AMD (47% White, 44% Asian), Target (48%), and Microsoft (48%). On the other hand, the Whitest are Duke Energy (80% White), 3M (78%), GE (75%), Dow (74%), American Tower (73%), P&G (73%), General Dynamics (72%), Conoco (72%), Eli Lilly (71%), Lockheed (71%), Southern Co (71%), Exxon (71%), Caterpillar (70%), RTX (70%), Exelon (70%), UPacific (69%), Morgan Stanley (68%), Colgate-Palmolive (68%), Merck (67%), Boeing (67%), Met Life (67%), Pfizer (66%), Johnson & J (66%), GM (65%), Ford (65%), AIG (65%), Medtronic (65%), AbbVie (64%), BNY Mellon (64%), IBM (63%), Thermo Fisher (62%), Altria (62%), and NextEra Energy (61%). Bloomberg reported that the outlier corporations that actually became “less diverse” were United Parcel Service Inc, tabaco company Altria Group Inc., travel agency Booking Holdings Inc., and food confectionary Mondelez International Inc. Another outlier is CVS, which hired a lot of Whites to management positions
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