Overall Unemployment: 4.3% (4.4%)
African America Unemployment: 7.5% (7.9%)
Latino America Unemployment: 5.2% (5.2%)
European America Unemployment: 3.7% (3.8%)
Asian America Unemployment: 3.6% (3.2%)
Previous month in parentheses.
Analysis: Overall unemployment dropped by 10 basis points to a 16 year low. African America dropped by 40 basis points, the largest drop among all groups. Asian America saw a 40 basis point increase, but remains lowest among all groups. European and Latino America had negligible change.
African American Male Unemployment: 6.5% (7.3%)
African American Female Unemployment: 7.0% (6.9%)
African American Teenage Unemployment: 27.3% (29.3%)
African American Male Participation: 67.5% (68.3%)
African American Female Participation: 62.9% (62.7%)
African American Teenage Participation: 31.3% (30.8%)
Analysis: African American Males had a 80 basis point drop in their unemployment and participation rate. This after three months straight of participation rate growth. African American Females had a slight uptick in unemployment and participation rates. Their participation rate has been virtually unchanged for the past five months. African American Teenagers had a 200 basis point decrease in unemployment rate and 30 basis point increase in their participation as they post a five month high in jobs.
African American Male-Female Job Gap: 1 038 000 jobs (974 000 jobs)
CONCLUSION: The overall economy added 138 000 jobs in May. This is versus an expected 185 000 by surveyed economists. African America saw an increase of 46 000 jobs, but quite a pullback after over 100 000 jobs in April. Despite strong numbers, many can not help but feel apprehensive about the economy’s sluggishness. An expected rate hike in June is still on the table, but it is less certain after two months straight of missed expectations. African America continues to push forward under the Trump administration with its highest employed numbers seeing an increase every month thus far. We know the economy is overdue for a recession, but it is by no means overheated leaving most economist in unfamiliar territory of just what happens going forward.
African America currently needs 717 000 jobs to match America’s unemployment rate. A increase of 4 000 from April.
HBCU Money 