Overall Unemployment: 4.1%
African America: 6.8%
Latino America: 4.8%
European America: 3.6%
Asian America: 3.5%
Analysis: European Americans’ unemployment rate has remained steady for four straight months with virtually no change in unemployment rate. Asian Americans decreased 10 basis points and Latino Americans decreased 30 basis points from May, respectively. African America’s unemployment rate increased by 80 basis points from May.
AFRICAN AMERICAN EMPLOYMENT REVIEW
AFRICAN AMERICAN MEN:
Unemployment Rate – 6.9%
Participation Rate – 68.8%
Employed – 9,752,000
Unemployed – 721,000
African American Men (AAM) saw a increase in their unemployment rate by 170 basis points in June. The group had a mild rebound in their participation rate in June by 30 basis points. African American Men lost 117,000 jobs in June and saw their number of unemployed increase by 181,000.
AFRICAN AMERICAN WOMEN:
Unemployment Rate – 5.8%
Participation Rate – 60.9%
Employed – 10,248,000
Unemployed – 634,000
African American Women saw a decrease in their unemployment rate by 40 basis points in June. The group decreased their participation rate in June by 80 basis points. African American Women lost 84,000 jobs in June and saw their number of unemployed decrease by 50,000.
AFRICAN AMERICAN TEENAGERS:
Unemployment Rate – 19.2%
Participation Rate – 30.0%
Employed – 651,000
Unemployed – 155,000
African American Teenagers unemployment rate increased by 480 basis points. The group saw their participation rate increased by 210 basis points in June. African American Teenagers added 10,000 jobs in May and saw their number of unemployed also decrease 41,000.
African American Men-Women Job Gap: African American Women currently have 496,000 more jobs than African American Men in June. This is an increase from 463,000 in May.
CONCLUSION: The overall economy added 147,000 jobs in June while African America lost 193,000 jobs. From CNN, “It is becoming harder for Americans to find work: The average duration of unemployment rose from 21.8 weeks to 23 weeks, and the share of unemployed workers who have been out of a job for 27 weeks or longer rose to 23.3%, edging closer to a three-year high. Trump’s tariffs — and the dizzying back and forth on implementing them and pausing them — has caused many businesses to stall major decision-making or spending, including hiring.”
Source: Bureau of Labor Statistics
HBCU Money 