African America’s July Jobs Report – 9.1%


jobs

Overall Unemployment: 5.3% (5.3%)

African America Unemployment: 9.1% (9.5%)

Latino America Unemployment: 6.8% (6.6%)

European America Unemployment: 4.6% (4.6%)

Asian America Unemployment: 4.0% (3.8%)

Previous month in parentheses.

Analysis: Overall unemployment went unchanged. Only African America experienced a decline, seeing a drop of 40 basis points. Asian and Latino America both experienced increases by 20 basis points.

African American Male Unemployment: 8.8% (9.5%)

African American Female Unemployment: 8.0% (7.9%)

African American Teenage Unemployment: 28.7% (31.8%)

African American Male Participation: 67.0% (67.6%)

African American Female Participation: 62.1% (62.0%)

African American Teenage Participation: 28.1% (28.6%)

Previous month in parentheses.

Analysis: African American males saw a double dip decline in both unemployment rate and participation rate by 70 and 60 basis points, respectively. African American females saw an increase in their unemployment rate by 10 basis points, but also saw an increase in their participation rate by the same. African American teenagers experienced also saw a double dip with their unemployment rate dropping by 310 basis points and their participation rate dropping by 50 basis points.

CONCLUSION: The overall economy added 215 000 jobs in June. African America added 33 000 jobs. Over the past five months, this month is the highest number of employed African Americans on record. That should be a good thing, but all other employment indicators are trending downward over the past five months. The civilian labor force is at its second lowest in the past five months showing that African America has eroding faith in finding employment. Meanwhile, the labor force that is present sees its second lowest number in participation rate over the past five months further reinforcing many to stay on the sideline. In fact, outside of the raw employed numbers all other indicators are at their second lowest over the past five month rolling. An unsettling notion as the Federal Reserve prepares to raise rates in September in what is a solid, but increasingly softer economy. African America needs 741 000 jobs to move in line with the country’s unemployment rate.

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