African America’s May Jobs Report – 10.2%


jobs

Overall Unemployment: 5.5% (5.4%)

African America Unemployment: 10.2% (9.6%)

Latino America Unemployment: 6.7% (6.9%)

European America Unemployment: 4.7% (4.7%)

Asian America Unemployment: 4.1% (4.4%)

Previous month in parentheses.

Analysis: Overall unemployment ticked up 10 basis points. Asian and Latino America saw drops of 30 and 20 basis points, respectively. European America unemployment rate has not changed for four consecutive months. African American unemployment rate spikes up 60 basis points and back into double digits.

African American Male Unemployment: 10.2% (9.2%)

African American Female Unemployment: 8.8% (8.8%)

African American Teenage Unemployment: 30.1% (27.5%)

African American Male Participation: 68.5% (68.7%)

African American Female Participation: 61.9% (61.9%)

African American Teenage Participation: 28.7% (27.2%)

Previous month in parentheses.

Analysis: African American male unemployment rises 100 basis points, while the participation rate drops 20 basis points. African American female unemployment and participation rate went unchanged. African American teenage unemployment rate spiked 260 basis points, while the participation rate rose 150 basis points.

CONCLUSION: The overall economy added 280 000 jobs in May. African America loss 88 000 jobs. Single digit unemployment rate for African America was but a short-lived dream. A rise in the labor force number and drop in the number of employed created the spike back into double digit unemployment rate. The labor force is at its highest in the past five months and 3.6 percent higher year over year indicating that African America is feeling more optimistic about finding employment. A sentiment that is in line with the rest of the country. Despite the job loss, African American employed numbers are still the second highest over the past five months and 5 percent higher year over year. The stability in African American female employment being the most vital to the community looks stable with participation rate and unemployment rate lacking the volatility that the male and teenage groups continue to experience. African America will need a rise of 64 000 jobs in June to push the unemployment rate back down to single digits.

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