According to unemployment data disclosed by the U.S. Department of Labor, some interesting findings on Asian Americans were reported by the Economic Policy Institution on April 5, 2012.
Overall, during the 2007 to 2010 economic downturn, Asian Americans experienced lower unemployment rates than whites, which may be due to Asian Americans’ higher education levels. The unemployment rate for Asian Americans with a high school education and less was 18.6 percent, compared to 24 percent for whites.
But highly educated Asian Americans suffered from higher unemployment rates than similarly educated whites. Specifically, Asian American workers with at least a bachelor’s degree are more likely to be unemployed than white workers with the same level of education—a fact that is particularly striking because 57.2 percent of the Asian American labor force falls into this category.
In other words, the higher education an Asian American has obtained, the more vulnerable his or her job security is during economically hard times.
The report also indicated that, in 2010, Asian Americans had the highest share of long-term unemployed workers (for more than half a year) when compared with white, black, and Hispanic workers. Among workers with a high school diploma, white men earned an average of $11,000 more than white women and Asian American men and women. That year, nearly half of all unemployed Asian Americans fell into the higher education category.
The conclusion of the research is not to imply that Asian Americans should not pursue higher education to avoid being the victim of racial biases in top level jobs. Instead, it presents the need for better career planning by Asian Americans, which should include careful scrutiny on the quality of employers. Finding a job in a company of equal opportunity and that is highly diverse may increase career success.
There are numerous websites that ask workers to evaluate employers. Some specifically emphasize how Asian Americans are being treated by their companies. Asian Avenue magazine selected two sites and have reported their current results, which may help in career planning and identifying companies that value diversity.
The DiversityInc Top 10 Companies for Asian Americans
• These companies’ board of directors average 6.3% Asian Americans, compared with 2% nationally. (LEAP)
• Top level management (CEO and direct reports) are almost 5% Asian.
• Asian Americans represent an average of 13.6% of their companies’ workforces, compared with 4.8% nationally. Asian
Americans represent an average of 14.3% of managers in these companies, compared with 6.1% nationally. (Bureau of Labor Statistics)
• There are nine CEOs of Fortune 500 companies who are of Asian descent, which is less than 2%.
No. 1: Deloitte
No. 2: Starwood Hotels & Resorts Worldwide
No. 3: Johnson & Johnson
No. 4: IBM Corp.
No. 5: PricewaterhouseCoopers
No. 6: Kaiser Permanente
No. 7: Abbott
No. 8: American Express
No. 9: Procter & Gamble
No. 10: Well Fargo
100 GREAT EMPLOYERS FOR ASIAN AMERICANS
Accenture – New York, NY
Adobe Systems – San Jose, CA
Advanced Micro Devices – Sunnyvale, CA
Allergan Inc. – Irvine, CA
Allstate – Northbrook, IL
American Family Insurance – Madison, WI
American Express – New York, NY
Amgen Inc. – Thousand Oaks, CA
Applied Biosystems – Foster City, CA
Applied Materials – Santa Clara, CA
Ariba Inc. – Mountain View, CA
AstraZeneca – Wilmington, DE
Autodesk – San Rafael, CA
AXA Financial Inc. – New York, NY
Bank of America – Charlotte, NC
Bearingpoint – McLean, VA
Bechtel Group Inc. – San Francisco, CA
Bingham McCutchen – Boston, MA
Bloomberg – New York, NY
Booz Allen Hamilton – McLean, VA
Boston Consulting Group – Boston, MA
Central Intelligence Agency – Washington D.C.
Chevron – San Ramon, CA
Cisco Systems – San Jose, CA
Community Health Systems – Franklin, TN
Coach Inc. – New York, NY
Comerica – Detroit, MI
Computer Sciences Corp. – El Segundo, CA
Deloitte & Touche USA – New York, NY
Electronic Arts – Redwood City, CA
EMC Corporation – Hopkinton, MA
Federal Bureau of Investigations – Washington, D.C.
Four Seasons Hotels and Resorts – Toronto, Canada
Fluor Corporation – Irving, TX
Genentech – San Francisco, CA
General Dynamics – Falls Church, VA
Gensler & Associates Inc. – San Francisco, CA
Genzyme Corporation – Cambridge, MA
GlaxoSmithKline – Triangle Park, NC
Goldman Sachs – New York, NY
Google Inc. – Mountain View, CA
Hamilton Sundstrand – Windsor Locks, CT
Health Management Associates Inc. – Naples, FL
Humana – Louisville, KY
Hyatt Corporation – Chicago, IL
Hyperion Solutions Corporation – Sunnyvale, CA
i2 Technologies – Irving, TX
IBM – Armonk, NY
Infosys Technologies – Fremont, CA
Intel – Santa Clara, CA
Irell & Manella – Century City, CA
Internal Revenue Service – Washington, D.C.
Jacobs Engineering Group Inc. – Pasadena, CA
Johnson & Johnson – New Brunswick, NJ
Jones Apparel Group Inc. – Bristol, PA
Juniper Networks Inc. – Sunnyvale, CA
Kaiser Permanente – Oakland, CA
Kindred Healthcare – Louisville, KY
KPMG – Montvale, NJ
Latham & Watkins – Los Angeles, CA
Lockheed Martin – Bethesda, MD
LSI Logic Inc. – Milpitas, CA
Macromedia – San Francisco, CA
Marathon Oil – Houston, TX
McKinsey & Company – New York, NY
Medtronic – Minneapolis, MN
Methodist Hospital Systems – Houston, TX
Microsoft – Redmond, WA
Morrison & Foerster – San Francisco, CA
Nike – Beaverton, OR
National Security Agency – Ft Meade, MD
NVidia Corp. – Santa Clara, CA
Oracle – Redwood Shores, CA
Paul Hastings Janofsky & Walker – Los Angeles, CA
PeopleSoft, Inc. – Pleasanton, CA
Perkins Eastman Architects – New York, NY
Pixar Animation Studios – Emeryville, CA
Polo Ralph Lauren Corporation – New York, NY
PricewaterhouseCoopers LLP – New York, NY
Qualcomm – San Diego, CA
Raytheon – Waltham, MA
RTKL Associates Inc. – Baltimore, MD
Science Applications Int’l Corp. – San Diego, CA
Siebel Systems, Inc. – San Mateo, CA
SRA International – Fairfax, VA
Starbucks – Seattle, WA
State Farm – Bloomington, IL
Tenet Healthcare Corp. – Dallas, TX
Texas Instruments – Dallas, TX
Unisys – Blue Bell, PA
U.S. Secret Service – Washington D.C.
U.S. State Department – Washington, D.C.
Valero Energy – San Antonio, TX
The Vanguard Group – Valley Forge, PA
Verizon Info Systems – New York, NY
The Walt Disney Co. – Burbank, CA
Washington Mutual – Seattle, WA
Wellpoint Inc. (Anthem) – Indianapolis, IN
Wells Fargo – San Francisco, CA
Wimberly Allison Tong & Goo – Honolulu, HI
Xerox – Stamford, CT
Yahoo! Inc. – Sunnyvale, CA
Source: www.goldsea.com/Career/Employers/top100emp.html
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