Overall Unemployment: 4.2%
African America: 6.0%
Latino America: 5.1%
European America: 3.8%
Asian America: 3.6%
Analysis: European Americans’ unemployment rate has remained steady for four straight months with virtually no change in unemployment rate. Asian Americans increased 60 basis points and Latino Americans decreased 10 basis points from April, respectively. African America’s unemployment rate decreased by 30 basis points from April. Unemployment rates across all groups seem to be leveling off despite
AFRICAN AMERICAN EMPLOYMENT REVIEW
AFRICAN AMERICAN MEN:
Unemployment Rate – 5.2%
Participation Rate – 68.5%
Employed – 9,869,000
Unemployed – 540,000
African American Men (AAM) saw a decrease in their unemployment rate by 40 basis points in May. The group had a noticeable decrease in their participation rate in May by 70 basis points. African American Men lost 48,000 jobs in May and saw their number of unemployed drop by 47,000.
AFRICAN AMERICAN WOMEN:
Unemployment Rate – 6.2%
Participation Rate – 61.7%
Employed – 10,332,000
Unemployed – 684,000
African American Women saw an increase in their unemployment rate by 10 basis points in May. The group increased their participation rate in May by 50 basis points. African American Women added 72,000 jobs in May and saw their number of unemployed increase by 21,000.
AFRICAN AMERICAN TEENAGERS:
Unemployment Rate – 14.4%
Participation Rate – 27.9%
Employed – 641,000
Unemployed – 108,000
African American Teenagers unemployment rate decreased by 520 basis points. The group saw their participation rate decreased by 40 basis points in May. African American Teenagers added 31,000 jobs in May and saw their number of unemployed also decrease 41,000.
African American Men-Women Job Gap: African American Women currently have 463,000 more jobs than African American Men in May. This is an increase from 344,000 in April.
CONCLUSION: The overall economy added 139,000 jobs in May while African America added 56,000 jobs. From CNBC, “Nearly half the job growth came from health care, which added 62,000, even higher than its average gain of 44,000 over the past year. Leisure and hospitality contributed 48,000 while social assistance added 16,000. On the downside, government lost 22,000 jobs as efforts to cull the federal workforce by President Donald Trump and the Elon Musk-led Department of Government Efficiency began to show an impact.”
Source: Bureau of Labor Statistics
HBCU Money 