Author: Editor

Sign at Martha’s Vineyard Airport, Massachusetts Cindygoff | Istock | Getty ImagesMartha’s Vineyard has long been a summer vacation destination for Black families, but August in the Massachusetts beach community is becoming an important hub for Black entrepreneurs, investors and financial firms, too.”I would say the magic of it is really about introducing your network to someone else’s network,” said Calvin Butts, founder of East Chop Capital, a private equity firm named after a neighborhood on the island. “We found great success raising capital there, we’ve had our portfolio companies speak as well, we’ve done very, very well with deal…

The job market slowed down considerably this summer, as employers added only 73,000 jobs in July, the U.S. Bureau of Labor Statistics reported Friday, far short of expectations. The BLS sharply revised downward the number of jobs added in May and June and the unemployment rate ticked up to 4.2%. The number for May was revised down by 125,000 jobs, from a gain of 144,000 to just 19,000, and the change for June was revised down by 133,000, from 147,000 to 14,000, for a total of 258,000 jobs lower than were previously reported.The professional and business services sector lost 14,000 jobs,…