A push to elevate Black men and women into management roles is losing ground in big companies.
U.S. companies have lost momentum in promoting Black professionals into management, according to new data from McKinsey & Co.
After the May 2020 murder of George Floyd set off a national conversation about race, equity and opportunity, American companies set ambitious goals for advancing Black talent in their ranks. They have made some strides in hiring and promoting more Black professionals, especially at the highest levels of the company; there are now eight Black chief executives in the Fortune 500, compared with four in 2020.
The historic labor gains made in the years following the pandemic now look more like a fleeting moment than a meaningful change in the labor market.