OVERALL UNEMPLOYMENT: 4.0%
AFRICAN AMERICA: 6.2%
LATINO AMERICA: 4.8%
EUROPEAN AMERICA: 3.5%
ASIAN AMERICA: 3.7%
Analysis: European Americans unemployment rate pushes lower to 3.5 percent, its lowest rate in the past five months for the second month in a row. Asian Americans increased 20 basis points and Latino Americans decreased 30 basis points from December, respectively. African Americans unemployment rate increased 10 basis points from December. This is the second highest rate in the past five months.
AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE
AFRICAN AMERICAN MEN: 6.9%
AFRICAN AMERICAN WOMEN: 5.4%
AFRICAN AMERICAN TEENAGERS: 9.5%
AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE
AFRICAN AMERICAN MEN: 69.0%
AFRICAN AMERICAN WOMEN: 62.5%
AFRICAN AMERICAN TEENAGERS: 25.3%
Analysis: African American Men saw an increase in their unemployment rate by 130 basis points and African American Women remain unchanged in January, respectively. African American Men increased their participation rate in January by 80 basis points bringing a halt to a four month decline. African American Women increased their participation rate in January by 10 basis points. African American Teenagers unemployment rate decreased by an unprecedented 1,070 basis points. African American Teenagers saw their participation rate decrease by 420 basis points in January, their lowest participation rate in the past five months.
African American Men-Women Job Gap: African American Women currently have 806,000 more jobs than African American Men in January. This is an increase from 757,000 in December.
CONCLUSION: The overall economy added 143,000 jobs in January while African America added 234,000 jobs. From Yahoo Finance, “Recent data has shown the labor market slowing but not rapidly deteriorating, as layoffs remain low. Economists have largely argued the recent string of labor market data fits the “broadly stable” labor market narrative Fed Chair Jerome Powell described in his most recent press conference on Jan. 29. “It’s a low-hiring environment,” Powell said. “So if you have a job, it’s all good. But if you have to find a job, the job-finding rate, the hiring rates have come down.”
Source: Bureau of Labor Statistics
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