Overall Unemployment: 7.7% (7.9%)
African America Unemployment: 13.8% (13.8%)
Latino America Unemployment: 9.6% (9.7%)
European America Unemployment: 6.8% (7.0%)
Asian America Unemployment: 6.1% (6.5%)
Analysis: Overall unemployment is down and all groups saw a decline in their unemployment rate EXCEPT African America. It remained unchanged. Asian America saw the biggest decline in rates among the groups and also continues to lead the nation with the lowest unemployment rate. African America remains the only group with double digit unemployment.
African American Male Unemployment: 12.9% (13.4%)
African American Female Unemployment: 12.5% (12.3%)
African American Teenage Unemployment: 43.1% (37.8%)
African American Male Participation: 68.2% (67.8%)
African American Female Participation: 62.2% (62.7%)
African American Teenage Participation: 27.4% (27.5%)
*Previous month in parentheses.
Analysis: African American men saw significant increase in their participation rate and significant drop in unemployment rate. A rare occurrence for African American men. Unfortunately, the two groups who handle the most of African America’s household economic load – female and teenager groups – both saw an increase in their unemployment rates coupled with decreased participation rates.
Conclusion: The country as a whole gained 236 000 jobs. African America lost 14 000 jobs. With a strong dependency on the public sector for employment and the sequester taking hold there is the potential for a rockier than usual road ahead for African America, which is saying a lot. Look for the unemployment rate to increase significantly if there is not an agreement on the budget within the next month. The looming government shutdown a little over 2 weeks away could prove to be another blow to an already battered African America. The African American teenage group continues to have the 3rd highest unemployment rate of its age group in the developed world trailing only youth in Greece and Spain. Last month’s report showed a ray of sunshine but this month shows thunderstorm clouds are gathering fast.
Source: Department of Labor