Therelationship between job turnover rates and financial literacy inblack males.

Thecurrent status of the financial literacy amongst the black males inUnites States is poor. From the literature review, the greateststrength of the outline is from the content analysis of how raceexplains the relationship between the job turnover rates andfinancial literacy amongst the black males. The source of inequalityis explained by factors such as home ownership, education levels,household income and financial support. Racial inequalities havesignificant impacts and consequences on different groups in UnitedStates.

Thebasic financial literacy included having knowledge on credit cards,mortgage related issues, investments and insurance. Lack of the basicfinancial management skills creates financial problems. As a result,there are high job turnover rates.

  1. The racial wealthy gap across different racial groups in United States is very high [ CITATION Tho13 l 1033 ]. An individual will tend to move to a well-paying job without taking into consideration other factors such as job security, growth potentials within the company and going concern ability of the organization.

  2. Inheritance and monetary assistance from parents. According to Bowman, only one-tenth of Africans Americans receive inheritance. This is due to lack of wealth and asset attainment for African Americans [ CITATION Sco11 l 1033 ]. Conley argues that the low financial literacy amongst the African American lowers their demand for investment purposes. The increase in stock market prices in 1990s, for example, saw only 6%-7% of African American buy the bonds compared to more than 40% of White Americans [ CITATION Con10 l 1033 ].

  3. Job skills differentials as a result of lower education attainment by African American. Public education funding in USA depends on the local property taxes. The taxes vary across neighborhoods. Majority of the poor minority populations live in inner-cities with low property taxes. Lack of skills in financial management increases job turnover [ CITATION Ake13 l 1033 ].

Despitethe strengths of the theoretical framework highlighted above, itwould be essential to include theories explaining the relationshipbetween job turnover rates and financial literacy. Theories can helpto identify gaps in previous researches that need to be fulfilled bythe current study [ CITATION Tim13 l 1033 ].The research arguments should be supported by additional statisticaldata.


Bowman, S. W. (2011). Multigenerational Interactions in Black Middle Class Wealth and Asset Decision Making. Journal of Family Economic Issues 32 (1), 15-26.

Buckley, T. A. (2013). Dissertation and Research Success. Philadelphia: Xlibris Corporation.

Conley, D. (2010). Being Black, Living in the Red: Race, Wealth, and Social Policy in America. Berkeley, California: University of California Press.

Jonah, A. (2013). The Impact of Wage Differenntials on Labour Turnover in Nigeria. International Journal of Academic Research in and Social Sciences Vol. 3, No. 9, 552-560.

Thomas Shapiro, T. M. (2013). The Roots of the Widening Racial Wealth Gap: Explaining the Black-White Economic Divide. Institute on Assets and Social Policy: Brandeis University, 2-8.