African America’s July Jobs Report – 11.4%

Overall Unemployment: 6.2% (6.1%)

African America Unemployment: 11.4% (10.7%)

Latino America Unemployment: 7.8% (7.8%)

European America Unemployment: 5.3% (5.3%)

Asian America Unemployment: 4.5% (5.1%)

Previous month in parentheses.

Analysis: The overall unemployment rate rose 10 basis points. European and Latino Americans saw their unemployment rates go unchanged. Asian America saw a 60 basis point decline in their unemployment rate. African America was the only group to see an increase rising 70 basis points and remaining the only group with double digit unemployment.

African American Male Unemployment: 11.1% (10.9%)

African American Female Unemployment: 10.1% (9.0%)

African American Teenage Unemployment: 34.9% (33.4%)

African American Male Participation: 68.0% (67.5%)

African American Female Participation: 62.3% (61.4%)

African American Teenage Participation: 27.3% (25.2%)

Previous month in parentheses.

Analysis: African American males saw their unemployment rate rise 20 basis points, but also experienced a healthy increase in their participation rate of 50 basis points. African American females short lived single digit unemployment rose 110 basis points, but they also experienced a rise in their participation rate of 90 basis points. African American teenagers continue to struggle with a rise of 150 basis points in their unemployment rate and only a negligible rise in their participation rate.

CONCLUSION: The overall economy added 209 000 jobs in July. Economist overall believe the economy is finally showing signs of healthy and stable recovery as job increases continue over 200 000 per month. African America picked up 69 000 new jobs and set another five month high of employed at almost 16.9 million. The momentum for hiring has definitely picked up African American optimism as the labor force increased by over 200 000, which is the reason the unemployment rate had such a spike. It also speaks to the fact that hiring can not keep pace with the number of African Americans seeking jobs. African American men and women are experiencing five month highs in labor force, employed, and participation rate. Unfortunately, teenagers continue their crisis with a five month low in employed population. The question is can this economy continue its recovery or as the Federal Reserve inches closer to raising interest rates will the usual adage of last hire and first fired come true once again.