OVERALL UNEMPLOYMENT: 3.6%
AFRICAN AMERICAN: 6.0%
LATINO AMERICAN: 4.3%
EUROPEAN AMERICAN: 3.1%
ASIAN AMERICAN: 3.2%
Analysis: European Americans were the only group to see a decrease in their unemployment rate from May with a 20 basis point drop. African American once again led all others with the largest increase in unemployment rate with a 40 basis point increase from May.
AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE
AFRICAN AMERICAN MEN: 5.9%
AFRICAN AMERICAN WOMEN: 5.4%
AFRICAN AMERICAN TEENAGE: 15.6%
AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE
AFRICAN AMERICAN MEN: 68.0%
AFRICAN AMERICAN WOMEN: 62.9%
AFRICAN AMERICAN TEENAGE: 29.8%
Analysis: African American Men and Women both saw upticks in their unemployment rates by 30 and 10 basis points, respectively. African American Men saw a 20 basis point decrease in their participation rate from May while African American Women experienced a 100 basis point decrease in their participation rate from May. African American Teenagers remain an extremely volatile group with their unemployment rate spiking by 390 basis points (bad news), but also seeing their participation rate increase by 60 basis points (good news).
African American Men-Women Job Gap: African American Women currently have 835,000 more jobs than African American Men in June. This is a decrease from 950,000 in May.
CONCLUSION: The overall economy added 209,000 million jobs in June. African America saw a loss of 239,000 jobs in June. From CNBC, “Consumer-facing service industries had a strong June, aligning to push job creation higher than expected,” said Nela Richardson, chief economist at ADP. “But wage growth continues to ebb in these same industries, and hiring likely is cresting after a late-cycle surge. The unexpected jump in payrolls comes despite more than a year’s worth of Federal Reserve interest rate increases aimed in large part to cool a jobs market in which there are still nearly two open positions for every available worker.”
HBCU Money 