Corporate America’s Economic War on Whites

-An abysmal 6% of new corporate hires were White in the post-George Floyd era

Source: Bloomberg News

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.

Source: @JigokuCake’s Twitter via Bloomberg

Bloomberg also reported thatabout 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

Source: @AnechoicMedia_ Twitter via Google’s Diversity Report

The least White industries include, Big Tech, like META, Intel, Alphabet, and Qualcomm, though IBM is a fairly White outlier being an old guard company with its headquarters in Westchester County, NY rather than Silicon Valley. AI companies like Nvidia and AMD are also very Asian and low on Whites, though RTX which is the computing platform for NVidia is much Whiter than its parent company. Data from Google’s 2022 Diversity Report shows that White male hires declined by about half from 2015 to 2022, with the biggest increase amongst Asians, especially Asian women, rather than Blacks or Hispanics. Besides tech, the least White industries are fashion brands like Nike, and obviously the service industry like Amazon and McDonalds. Even finance has become much more diverse, such as Visa and JP Morgan, though Capital 1, Morgan Stanley, and BNY Mellon are still fairly White.

Source: Richard Hanania’s Twitter via Bloomberg News

The Whitest industries are energy, like Duke Energy and Conoco, Chemical production like Dow, Aerospace like General Dynamics and Lockheed, utilities like Union Pacific, General Electric, Exelon, and American Tower, which is a real estate investment firm for cell towers. Also auto manufacturers like Ford and General Motors, other manufacturing like Caterpillar, 3M, and Thermo Fisher, which produces analytical instruments. Also healthcare technology like Medtronic, consumer goods manufacturers like Proctor & Gamble and Colgate, Pharma like Pfizer, Johnson & Johnson, Eli Lilly, AbbVie, and Merck, and insurance like MetLife and AIG. Overall the Whiter corporations tend to be more practical or utilitarian, thus less brand focused.

Source: Richard Hanania’s Twitter via Bloomberg News

Many corporations hired workers on mass across racial lines, such as Amazon, which hired a lot more non-Whites among less senior roles while increasing Whites in upper management. In contrast, Nike which is probably the most anti-White corporation despite a Portland HQ, actually let go of Whites in executive positions. For the most part, corporations sacrificed White proles and young Whites looking to get a foot in the door, to get their diversity stats up. S&P 100 companies’ upper management is still about 60% White, though becoming more non-White. Overall, Asians are the most represented among professional and technical hires with Hispanics and Blacks hired more in less senior positions.

Source: Bloomberg News

America is about 60% White and 40% non-White, and for those entering the workforce probably about 50/50. Thus the only way that this hiring disparity of 6% White and 94% non-White is possible is that corporations blatantly discriminated against White applicants. Not to mention that if we also assume gender based favoritism, than probably about 2% of new corporate hires are White males. Corporations can’t defend these disparities in any disparate impact lawsuit and any case of equitable representation is clear bullshit. While Black, Hispanic, and Asian hires were all overrepresented relative to their population, Hispanics (x 2.1) and Asians (x 3.1) were much more overrepresented than Blacks (x 1.9). Even at corporations where employment shrank, Asians (2.3%) and Hispanics (9.7%) were vastly underrepresented, while ironically Blacks were slightly overrepresented (16.5%), with Whites the most overrepresented (68.5%). This extreme White underrepresentation among corporate hires of about 10% of White representation of the overall population shows that a straight forward quota system would be preferable from a White standpoint, though Asians would be screwed.

Source: @BankerWeimar’s Twitter

ResumeBuilder.com surveyed 1,000 hiring managers across the U.S. and found that “52% believe their company practices “reverse discrimination” in hiring,” and that “1 in 6 have been asked to deprioritize hiring white men.” The question is whether these actions violate civil rights law or are a product of civil rights, and both arguments have validity. Clearly there is an agenda to purge Whites from Corporate America, though there are a variety of factors. For instance, the profit motive to depress wages via immigration, ethnic nepotism as the managerial class becomes more non-White, NGOs that extort corporations to hire more non-Whites, oligarchs using race to deflect from any economic backlash such as unionization, and State pressure from Biden’s Justice Department for more diversity. The White upper class is throwing downscale Whites under the bus, and perhaps view the White middle class as competitors for elite positions. It seems that the establishment’s strategy is to build up this new diverse managerial class that will be more complacent. The ruling class are hedging on a strategy of explicitly aligning themselves with the new demographic against the old America, which is a gamble that could payoff or backfire. However, woke capital is not all some top down agenda, and a lot of these changes are the result of woke college grads rising up the corporate ladder, taking over HR and recruiting departments.

Source: @loganclarkhall Twitter

There will probably be a severe recession, or something more akin to the Great Depression, and elites are anxious about how to handle the aftermath. Woke capitalism, as a response to both the rise in economic populism and the BLM protests/riots, is an example of Disaster Capitalism, which we will likely see more of in response to the incoming economic crisis. For instance, the interest rate hikes to quelle inflation are going to crush small to medium-sized businesses and the regional banks that these businesses rely upon, and are the lifeblood of Middle America. Obviously these small businesses hire a lot more Whites and conservatives than big corporations.

There will also likely be a credit crunch, where it becomes impossible to get a loan if one is not a corporation or ultra wealthy. This is on top of anti-White discrimination for loans and government relief for small business, and for home loans. It seems that the plan is to make it nearly impossible to make a living independently from either the Government or mega corporations, and where those at the top select economic winners and losers at will. The economic crisis will make it a lot messier to pull off this social and economic transition, than if financial institutions managed to pull off a soft landing scenario.

Corporations got away with discriminatory policies, in part, because of the tight labor market after the pandemic. Though if your White and qualified and didn’t get hired, it is obvious what happened. While unemployment is still low, at least on paper, there will almost certainly be a big crash with mass layoffs. Not to mention the impact of mass automation. There has been this “frog in the boiling pan” scenario for the past several decades, both with economic neoliberalism and cultural and demographic change. Whites in particular have been relatively prosperous enough to tolerate these changes. However, the economic crisis and dramatic decline in quality of life will increase nasty zero-sum competition. Mass layoffs will impact all demographics, from Whites on the right and the left, as well as many of the newer diversity hires. So basically everyone is going to be pissed off, adding fuel to the fire of existing social and political strife.

Source: Jeffrey Tucker’s Twitter via FED data

The White/Black labor force participation gap has closed, with Blacks exceeding Whites for the first time, as White labor force participation has not recovered from the lockdowns, as well as from the 08’ recession. White per capita income is still higher than Blacks and Hispanics, but has stagnated with a dip since the late 2010s, while Hispanic and Black income has plateaued, and Asian income has grown the fastest. While those who are well established in their careers might be ok, White male zoomers entering the workforce will be especially hard-hit. Probably worse than millennials were by the 08’ recession. Even the White upper middle class, who see it as a given that their kids will go off to college and get a corporate job, now face a lot tougher competition than in the past. These discriminatory policies partially explain why White males are the most impacted by suicides and deaths of despair. Not to mention the long-term negative impacts on fertility and family formation.

Go woke, go broke is often a cope, as corporations function like quasi-state entities that are  propped up by Central Bankers. This cope also assumes that these malicious actions will backfire, which is not a given, and an excuse to not do anything. Also complaining about wokeness in a broad sense is intellectually insufficient. This agenda is a tribal conflict and power grab, rather than people having an honest disagreement that they can debate democratically.

The right still has this naïve hope that electing Trump or DeSantis will fix everything. Trump was in power and cut the taxes of these woke corporations, failed to have his Justice Department fight anti-White discrimination, and then boasted about record low unemployment for every demographic group except White males. Even if one makes the case that Trump’s corporate tax cuts were good for the economy, that argument is nullified by corporate hiring practice. The new Populist GOP can’t be taken serious until it accepts the limitations of colorblind meritocracy, is willing to use lawfare against woke capital, and aggressively takes on corporations and the managerial elite economically. This means rejecting free market orthodoxy, such as supporting a progressive corporate tax, to the chagrin of Reaganite free-market conservatives. Regardless, radical economic decentralization or the economics of distributism, is the key to ending the consolidation of wealth and power, and the cutthroat zero-sum competition, that is forcing people to hate one another.

Source: @ReyReviews Twitter

There are limitations to personal responsibility, self-improvement, and striving, if one does not have the social capital and institutions are hostile. Right leaning Whites, in particular, are too individualist and stoic for their own good. However, the right is now being forced to reconsider the validity of identity politics, and rethink bootstraps conservativism. For instance, viewing anyone who does not succeed economically under the current system as bums, is at odds with calling out a rigged system. The main silver lining is that large numbers of intelligent people getting pushed out of major institutions and becoming disaffected, will lead to the creation of alternative institutions, and entrepreneurship and innovation outside of the system.