OVERALL UNEMPLOYMENT: 6.7% (6.9%)
AFRICAN AMERICAN: 10.3% (10.8%)
LATINO AMERICAN: 8.4% (8.8%)
EUROPEAN AMERICAN: 5.9% (6.0%)
ASIAN AMERICAN: 6.7% (7.6%)
Previous month in parentheses.
Analysis: For a second straight month all groups saw drops in their unemployment rates, led by Asian America’s 90 basis point decrease. European Americans had second smallest decrease, with unemployment dropping 10 basis points.
AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE
AFRICAN AMERICAN MEN: 11.2% (11.5%)
AFRICAN AMERICAN WOMEN: 9.0% (9.2%)
AFRICAN AMERICAN TEENAGE: 17.4% (23.6%)
AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE
AFRICAN AMERICAN MEN: 65.2% (65.4%)
AFRICAN AMERICAN WOMEN: 60.6% (60.1%)
AFRICAN AMERICAN TEENAGE: 29.0% (30.3%)
Analysis: All three African American groups saw declines in their unemployment rate, led by a major movement by the African American Teenage group declining by 590 basis points. Participation rates for Men and Teenage both decreased, but the Teenage group saw a 430 basis point decline which represents a five-month low. African American Women saw a participation rate improvement of 50 basis points in November.
African American Men-Women Job Gap: African American women currently have 1,062,000 more jobs than African American men in November. This is a decrease from 1,075,000 in October.
CONCLUSION: The overall economy added 245,000 million jobs in November. African America added 136,000 jobs in November or 55.5 percent of the overall jobs. From Yahoo Finance, “The U.S. economy still has a ways to go before fully making up for the drop in payrolls induced by the pandemic. Even with a seventh straight month of net job gains, the economy remains about 9.8 million jobs short of its pre-pandemic level in February. The U.S. economy lost more than 22 million jobs between March and April.”
HBCU Money 