OVERALL UNEMPLOYMENT: 8.4% (10.2%)
AFRICAN AMERICAN: 13.0% (14.6%)
LATINO AMERICAN: 10.5% (12.9%)
EUROPEAN AMERICAN: 7.3% (9.2%)
ASIAN AMERICAN: 10.7% (12.0%)
Previous month in parentheses.
Analysis: All groups saw drops in their unemployment rates, led by Latino America’s 240 basis point decrease. African Americans had second smallest decrease, with unemployment dropping 160 basis points.
AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE
AFRICAN AMERICAN MEN: 13.2% (15.2%)
AFRICAN AMERICAN WOMEN: 12.0% (13.5%)
AFRICAN AMERICAN TEENAGE: 24.6% (22.5%)
AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE
AFRICAN AMERICAN MEN: 65.9% (65.6%)
AFRICAN AMERICAN WOMEN: 60.2% (60.2%)
AFRICAN AMERICAN TEENAGE: 29.0% (29.4%)
Analysis: African American Men and Women saw declines in their unemployment rate, rates while African American Teenagers saw an uptick in their unemployment rate by 210 basis points. Participation rates for Men improved marginally, Women saw no improvement, and African American Teenagers saw a second straight month of decline with a 40 basis points decline in August.
African American Men-Women Job Gap: African American women currently have 898,000 more jobs than African American men in August. This is a decrease from 958,000 in July.
CONCLUSION: The overall economy added 1.371 million jobs in August. African America added 367,000 jobs in July or 26.8 percent of the overall jobs. From Yahoo Finance, “The US economy added back a greater than expected number of payrolls in August and the unemployment rate improved by a larger than anticipated margin, as employers continued to bring back workers as virus-related business disruptions abated. Still, the pace of payroll gains slowed relative to recent months. A rise in temporary hiring for the 2020 Census helped boost non-farm payrolls in August, with government jobs jumping by 344,000 month-on-month, including a gain of 238,000 directly due to Census hiring. But in the private sector, nearly ever major industry group in both services and manufacturing added payrolls on net as well.”