State of Black Economics Report

Whether we are looking at education, employment, leadership or entrepreneurship, it is clear there are no simple solutions to complex problems. Better disaggregated data is essential to fully understand disparities in education, employment, leadership and entrepreneurship and would enable policymakers to set targets and track progress. Legislation, voluntary codes and policies also play an important role. Canada’s Employment Equity Act has a positive impact by requiring federally regulated corporations to report on representation and strategies to advance designated groups, including women, Indigenous Peoples, racialized people and persons with disabilities.

At the organizational level, businesses, government agencies, educational institutions and service providers shape economic and social outcomes through their policies and practices. Bringing a gender and diversity lens across all aspects of an organization, including governance and strategy, human resources, workplace culture, metrics, the value chain and community engagement, can ensure that commitments to EDI and anti-Black racism are embedded in institutional frameworks.

At the individual level, it’s essential to equip Black Canadians with resources and support at every stage of the talent pipeline, from education to employment and leadership. However, the focus should not be on fixing Black communities, but on transforming societal attitudes and eliminating systemic biases.

Overall, the State of Black Economics Report offers good news – evidence of significant progress in key areas known to drive economic development. However, there is more to be done. In the U.S., we have seen a backlash and attacks on EDI that threaten to undermine commitments to combating anti-Black racism across education, employment, leadership and entrepreneurship. Nevertheless, the evidence remains strong. Advancing Black prosperity is not simply a matter of human rights or social justice, but fundamental to Canada’s prosperity and sustainability.

Sign up here (external link, opens in new window)  to receive the full report when available.