African America’s March Jobs Report – 10.1%


jobs

Overall Unemployment: 5.5% (5.5%)

African America Unemployment: 10.1% (10.4%)

Latino America Unemployment: 6.8% (6.6%)

European America Unemployment: 4.7% (4.7%)

Asian America Unemployment: 3.2% (4.0%)

Previous month in parentheses.

Analysis: Overall the unemployment rate went unchanged. Latino America was the only group with a rising unemployment rate of 20 basis points. Asian America retains America’s lowest unemployment rate, tightening an even firmer grip with an 80 basis point drop. African America saw a decrease of 40 basis points and remains the only group with double digit unemployment.

African American Male Unemployment: 10.0% (10.4%)

African American Female Unemployment: 9.2% (8.9%)

African American Teenage Unemployment: 25.0% (30.0%)

African American Male Participation: 67.2% (67.3%)

African American Female Participation: 61.4% (61.3%)

African American Teenage Participation: 25.7% (29.1%)

Previous month in parentheses.

Analysis: African American males saw a 40 basis point decline in unemployment and a 10 basis point drop in participation rate. African American females experienced a rise in their unemployment rate 30 basis points, but maintain their single digit unemployment rate. They also got an uptick in their participation rate 10 basis points. African American teenagers had their unemployment rate decline by 500 basis points, but also their participation rate dropped a precipitously 340 basis points.

CONCLUSION: The overall economy added 126 000 jobs in March. Wages also saw a slight increase of 0.3 percent, overall. After a year of average job gains for the country at almost 270 000 jobs per month, this marks an over 50 percent decline and sparks concern among many economist. African America added only 7 000 jobs, bringing four straight months of five figure job gains to a screeching halt. The albatross are the teenagers who took a massive hit in employed numbers and their participation rate, dragging down the overall group. At current labor force levels, African America needs 40 000 jobs to obtain 9.9 percent unemployment. With weakening economy data that maybe harder to accomplish as growth both domestically and internationally appears to be grinding along.

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