African America’s December 2020 Jobs Report – 9.9%


OVERALL UNEMPLOYMENT: 6.7% (6.7%)

AFRICAN AMERICAN: 9.9% (10.3%)

LATINO AMERICAN: 9.3% (8.4%)

EUROPEAN AMERICAN: 6.0% (5.9%)

ASIAN AMERICAN: 5.9% (6.7%)

Previous month in parentheses.

Analysis: Asian Americans saw a 80 basis point decline to lead all groups. Latinos had the worst increase among all groups with an increase in 90 basis points. Marginal movements of 40 basis points decrease by African America and 10 basis point increase for European America.

AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE

AFRICAN AMERICAN MEN: 10.4% (11.2%)

AFRICAN AMERICAN WOMEN: 8.4% (9.0%)

AFRICAN AMERICAN TEENAGE: 25.2% (17.4%)

AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE

AFRICAN AMERICAN MEN: 65.2% (65.2%)

AFRICAN AMERICAN WOMEN: 59.5% (60.4%)

AFRICAN AMERICAN TEENAGE: 31.0% (29.3%)

Analysis: African American Men and Women groups saw declines in their unemployment rate, led by the African American Men group declining by 80 basis points. African American Teenage Group saw an acute spike of 780 basis points. Participation rates for Teenage Group increased by 170 basis points, African American Men went unchanged, and African American Women saw a substantive 90 basis point drop.

African American Men-Women Job Gap: African American women currently have 973,000 more jobs than African American men in December. This is a decrease from 1,062,000 in November.

CONCLUSION: The overall economy lost 140,000 million jobs in December. African America lost 26,000 jobs in December or 18.5 percent of the overall jobs lost. From Yahoo Finance, “And of course, a lack of job opportunities—as there are nearly 10 million fewer jobs today than back in February— has also contributed to millions of workers remaining on the sidelines of the labor market,” economist Jay Bryson said.

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