Author Archives: hbcumoney

Overall Unemployment: 4.4% (4.3%)

African America Unemployment: 7.1% (7.5%)

Latino America Unemployment: 4.8% (5.2%)

European America Unemployment: 3.8% (3.7%)

Asian America Unemployment: 3.6% (3.6%)

Previous month in parentheses.

Analysis: Overall unemployment rose 10 basis points. This was a rise from the lowest levels since May 2001. African and Latino America dropped 40 basis points, while Asian and European America were negligible in their change.

African American Male Unemployment: 6.3% (6.5%)

African American Female Unemployment: 6.8% (7.0%)

African American Teenage Unemployment: 21.1% (27.3%)

African American Male Participation: 67.5% (67.5%)

African American Female Participation: 62.4% (62.9%)

African American Teenage Participation: 30.8% (31.3%)

Analysis: All three African American groups saw decreases in their unemployment rate, but it was the Teenage group who led the way with an astounding 620 basis point drop. Participation rates though for women and teenagers both declining, while the men had no change.

African American Male-Female Job Gap: 945 000 jobs (1 038 000 jobs)

CONCLUSION: The overall economy added 222 000 jobs in June. This exceeded many economists expectations. African America saw a job increase came in at 16 000, a fourth straight month of job gains. However, job growth appears to be slowing after two months ago coming in at 100 000 and the month prior being at 46 000. Still this is the highest number of employed that African America has seen overall in sometime. Explaining job growth for the country let alone African America at this point has reached a guessing game for many economists. The participation rates continue to be a concern overall, especially among men who continue to see their number slide and women’s participation rate remains erratic at best.

African America currently needs 608 000 jobs to match America’s unemployment rate. A decrease of 108 000 from May.