5 Biggest News Stories of the Week: August 4

As the saying goes, the news never stops. In this weekly news roundup, we’ll cover the top news stories impacting American workplaces and communities.   

1. Study Shows Increase in C-Suite Sentiment Around ESG

Harvard Law School’s inaugural environmental, social and governance (ESG) survey examined how companies view ESG. The research showed that 56% of European-based companies and 30% of U.S.-based companies see opportunities in ESG issues. 13% of European companies and 34% of U.S. companies see risks in ESG issues.  

Sixty percent of respondents ensure they are adequately reporting on ESG initiatives in their annual reports and findings. Also, 53% are enhancing ESG disclosures currently in place.  

Harvard Law School used the Diligent Institute’s Corporate Sentiment Tracker to evaluate how those in the C-suite level or above talk about ESG.  

2. US Economy Added 187,000 Jobs in July

The latest jobs report from the Bureau of Labor Statistics showed the U.S. economy added 187,000 jobs in July, a sign the labor market is cooling.  

Job gains occurred in healthcare, social assistance, financial activities and wholesale trade. 

The unemployment rate decreased to 3.5% but remained stable for white workers at 3.1%. The rate decreased slightly for Black workers from 6% in June to 5.8% in July. For Latino workers, unemployment increased from 4.3% in June to 4.4% in July.  

3. Register for the 6th Annual Women of Color and Their Allies

Mark your calendars for Fair360’s 6th Annual Women of Color and Their Allies event! 

On Sept. 21, 2023, we will host Women of Color and Their Allies live from the Gaylord National Resort, just outside Washington, D.C., from 9 a.m. to 6 p.m. EST. 

This innovative and interactive event has become the go-to conference for leaders to discover best practices, learn actionable strategies and engage with hundreds of professionals committed to creating inclusive and equitable workplaces. 

Register now! 

4. Eloiza Domingo on Allstate’s ‘IDE’ Model

S&P Global Market Intelligence recently spoke with Eloiza Domingo, Vice President of Human Resources and Chief Inclusive Diversity and Equity Officer at Allstate (No. 47 on the Fair360 2023 Top 50 Companies for Diversity list) about how the company fosters equity and inclusion. 

“We have an entrepreneurial spirit at Allstate,” she said. “What that means is that there’s the ability to come up with an idea and apply it pretty quickly. There are pros and cons to that. The pros of an entrepreneurial spirit is that you can do a lot with an idea. The con of that is that it can create silos. When I came here, there was a lot of stuff going on with diversity. Allstate has had a 20-plus-year experience with inclusive diversity and equity. We call it IDE.” 

Domingo also discussed Allstate’s approach to IDE, virtual and office work and ESG.  

5. Cities Celebrate National Black Business Month

August is National Black Business Month, a time to celebrate and recognize the contributions of Black entrepreneurs to the U.S. economy.  

Metro Atlanta stands out as a hub for Black-owned businesses. According to the Atlanta Journal-Constitution, it has the highest proportion of Black-owned employer businesses compared to other metros in the country. About 20% of the city’s businesses are Black-owned. However, there remains a disparity between the city’s Black population and its representation in the business community.  

The annual Black business commemoration, initiated in 2004 by Fred Jordan and John William Templeton, offers various opportunities to support Atlanta’s Black entrepreneurs, including events hosted by business groups and brick-and-mortar stores. 

Other U.S. cities such as Houston, Charlotte and Sacramento are also celebrating National Black Business Month with conferences and other events.