Overall Unemployment: 7.6% (7.7%)
African America Unemployment: 13.3% (13.8%)
Latino America Unemployment: 9.2% (9.6%)
European America Unemployment: 6.7% (6.8%)
Asian America Unemployment: 5.0% (6.1%)
Analysis: Overall unemployment rate is down. Every group saw a decline in their unemployment rate led by Asian America who saw the largest decline. African America continues to be the only group with double digit unemployment. The American participation rate is the lowest since 1979.
African American Male Unemployment: 12.7% (12.9%)
African American Female Unemployment: 12.2% (12.5%)
African American Teenage Unemployment: 33.8% (43.1%)
African American Male Participation: 68.1% (68.2%)
African American Female Participation: 61.3% (62.2%)
African American Teenage Participation: 27.6% (27.4%)
*Previous month in parentheses.
Analysis: All groups saw declines in their unemployment rates. The African American teenage group led the way with one of the most significant drops in recent memory in its unemployment rate. Participation rates saw drops for both men and women while the teenagers saw a slight uptick. African American women saw a significant drop in their participation rate.
Conclusion: America overall added only 88 000 jobs in the month of March, the lowest job creation since June of 2012. African America netted 9 000 new jobs or 10.2 percent of new jobs. African American men and teenagers netted 18 000 and 68 000 new jobs, respectively. Unfortunately, African American women experienced a loss of 76 000 jobs. The women’s loss is by far the most problematic for African American household financial stability since they head the majority of African American households. The increase in teenage unemployment while serving as a hedge in households also means African American households are bringing in dramatically less as teenagers are almost always working low wage jobs. As the federal sequester continues to take hold we should continue to expect abysmal employment numbers. African America’s continued public employment dependence will continue to be highlighted as long as the federal log jam in Washington D.C. continues and agencies have to make cuts and furloughs. The most damaging number reported is the decrease in the African American labor force which dropped by 115 000 and served as the primary driver in the decreased unemployment rate. After four months of increased African American labor force this could be an early sign that employment search fatigue could be setting in.
HBCU Money 