During the ‘90’s the Politically Correct movement gained steam. In some ways, a new form of racism was born. Instead of not hiring someone because he was black, they started hiring people because they were black… a great way to show how PC your company was. Additionally, once you a few minority employees, you could institute diversity policy and diversity training. Funny how this diversity training never covered fair treatment of majority races.
In short, while overt signs of traditionally defined racism declined in the 90’s, a new form of it was born and the old form went underground.