OVERALL UNEMPLOYMENT: 6.3% (6.7%)
AFRICAN AMERICAN: 9.2% (9.9%)
LATINO AMERICAN: 8.6% (9.3%)
EUROPEAN AMERICAN: 5.7% (6.0%)
ASIAN AMERICAN: 6.6% (5.9%)
Previous month in parentheses.
Analysis: African and Latino Americans saw a 70 basis point decline to lead all groups. Asian Americans had the worst increase among all groups with an increase of 70 basis points. Marginal movements of 30 basis points decrease by European Americans.
AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE
AFRICAN AMERICAN MEN: 9.4% (10.4%)
AFRICAN AMERICAN WOMEN: 8.5% (8.4%)
AFRICAN AMERICAN TEENAGE: 17.3% (25.2%)
AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE
AFRICAN AMERICAN MEN: 66.1% (65.2%)
AFRICAN AMERICAN WOMEN: 59.8% (59.5%)
AFRICAN AMERICAN TEENAGE: 29.3% (31.0%)
Analysis: African American Men saw a decline in their unemployment rate by 100 basis points. African American Women saw a margin uptick of 10 basis points. African American Teenage Group saw an acute drop of 790 basis points. Participation rates for Teenage Group declined by 170 basis points, African American Men increased by 90 basis points, and African American Women saw an increase 30 basis points.
African American Men-Women Job Gap: African American Women currently have 806,000 more jobs than African American Men in January. This is a decrease from 973,000 in December.
CONCLUSION: The overall economy added 49,000 jobs in January. African America added 262,000 jobs in January or 534 percent of the overall jobs added. “African American Men were the bulk of those jobs accounting for 77.4 percent. A major headway into the continued closing of the employment gap between African American men and women will have profound social, economic, and community implications,” William A. Foster, IV, chief economist for HBCU Money said. Per Yahoo Finance, “Hiring will pick up as restrictions are relaxed but gains will be stronger once the economy can fully reopen,” Rubeela Farooqi, chief U.S. economist for High Frequency Economics, said in an email Friday. “Until then, generous fiscal support will provide a safety net for households and businesses.”