OVERALL UNEMPLOYMENT: 3.8%
AFRICAN AMERICAN: 5.7%
LATINO AMERICAN: 4.6%
EUROPEAN AMERICAN: 3.4%
ASIAN AMERICAN: 2.8%
Analysis: African Americans were the only group to see an increase in their unemployment rate from August with a 40 basis point increase. Asian and Latino American both had decreases in their unemployment rate with a 30 basis point decrease for both groups from August.
AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE
AFRICAN AMERICAN MEN: 5.6%
AFRICAN AMERICAN WOMEN: 4.5%
AFRICAN AMERICAN TEENAGE: 24.0%
AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE
AFRICAN AMERICAN MEN: 68.6%
AFRICAN AMERICAN WOMEN: 62.6%
AFRICAN AMERICAN TEENAGE: 31.8%
Analysis: African American Men and Women both saw and increase and decrease in their unemployment rates by 60 and 20 basis points, respectively. African American Men saw a 20 basis point increase in their participation rate from August while African American Women had a 10 basis point decrease in their participation rate from August. African American Teenagers remain an extremely volatile group with their unemployment rate skyrocketing by 710 basis points, but also seeing their participation rate increase by 260 basis points. For African American Teenagers both unemployment rate and participation rate are at 5 month highs.
African American Men-Women Job Gap: African American Women currently have 778,000 more jobs than African American Men in September. This is a increase from 739,000 in August.
CONCLUSION: The overall economy added an unbridled 336,000 jobs in September. African America added only 20,000 jobs in September. From USA Today, “While strong job gains are normally welcomed, the report likely raises the odds that the Federal Reserve will raise interest rates again next month to tamp down job and wage growth that could be fueling inflation, says economist Rubeela Farooqi of High Frequency Economics. A separate report this week showed that job openings jumped in August after trending lower in prior months.”
HBCU Money 