Category Archives: Economics

African America’s March 2024 Jobs Report – 6.4%

Posted on April 8, 2024 by | Leave a comment

OVERALL UNEMPLOYMENT: 3.8%

AFRICAN AMERICA: 6.4%

LATINO AMERICA: 4.5%

EUROPEAN AMERICA: 3.4%

ASIAN AMERICA: 2.5%

Analysis: European Americans saw no change in their unemployment rate from March for the third straight month. Asian and Latino Americans saw an decrease of 90 basis points and 50 basis points, respectively. African Americans had an increase in their unemployment rate of 80 basis points for March.

AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE

AFRICAN AMERICAN MEN: 6.2%

AFRICAN AMERICAN WOMEN: 5.6% 

AFRICAN AMERICAN TEENAGERS: 20.1%

AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE

AFRICAN AMERICAN MEN: 69.6%

AFRICAN AMERICAN WOMEN: 63.0%

AFRICAN AMERICAN TEENAGERS: 32.8%

Analysis: African American Men saw an increase in their unemployment rate by 10 basis points and African American Women increased by 120 basis points. African American Men and Women decreased their participation rate in March by 20 basis points and 40 basis points, respectively. African American Teenagers unemployment rate jumps by 470 basis points and 850 basis points over the past two months as their volatility continues. African American Teenagers also had their participation rate increase by 210 basis points up to their highest participation rate over the past five months.

African American Men-Women Job Gap: African American Women currently have 710,000 more jobs than African American Men in March. This is an decrease from 859,000 in February.

CONCLUSION: The overall economy added 303,000 jobs in February while African America lost 204,000 jobs. From CNBC, “This is another really strong report,” said Lauren Goodwin, economist and chief market strategist at New York Life Investments. “This report and the February report showed some broadening in terms of job creation, which is a very good sign.”

Leave a comment

Posted in Economics

Tagged , , , , , ,

African America’s February 2024 Jobs Report – 5.6%

Posted on March 11, 2024 by | Leave a comment

OVERALL UNEMPLOYMENT: 3.9%

AFRICAN AMERICA: 5.6%

LATINO AMERICA: 5.0%

EUROPEAN AMERICA: 3.4%

ASIAN AMERICA: 3.4%

Analysis: Latino and European Americans both saw no change in their unemployment rate from January. Asian Americans saw an increase of 50 basis points change in their unemployment rate. African Americans had an increase in their unemployment rate of 30 basis points for January.

AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE

AFRICAN AMERICAN MEN: 6.1%

AFRICAN AMERICAN WOMEN: 4.4% 

AFRICAN AMERICAN TEENAGERS: 15.4%

AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE

AFRICAN AMERICAN MEN: 69.8%

AFRICAN AMERICAN WOMEN: 63.4%

AFRICAN AMERICAN TEENAGERS: 30.7%

Analysis: African American Men saw an increase in their unemployment rates by 80 basis points while African American Women decreased by 40 basis points after three straight months of no change. African American Men and Women increased their participation rate in January by 40 basis points and 50 basis points, respectively. African American Teenagers unemployment rate jumps by 380 basis points as their volatility continues. African American Teenagers also had their participation rate decrease by 90 basis points back down to their lowest participation rate over the past five months.

African American Men-Women Job Gap: African American Women currently have 859,000 more jobs than African American Men in February. This is an increase from 728,000 in January.

CONCLUSION: The overall economy added 275,000 jobs in February while African America gained 63,000 jobs. From Bureau of Labor Statistics, “Among those not in the labor force who wanted a job, the number of people marginally attached to the labor force changed little at 1.6 million in February. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, was little changed at 425,000 in February.”

Leave a comment

Posted in Economics

Tagged , , , , , ,

African America’s January 2024 Jobs Report – 5.3%

Posted on February 5, 2024 by | Leave a comment

OVERALL UNEMPLOYMENT: 3.7%

AFRICAN AMERICA: 5.3%

LATINO AMERICA: 5.0%

EUROPEAN AMERICA: 3.4%

ASIAN AMERICA: 2.9%

Analysis: Asian and European Americans both saw a decrease in their unemployment rate from December with a decrease of 20 and 10 basis points, respectively. Latino Americans saw no change in their unemployment rate. African Americans had an increase in their unemployment rate of 10 basis points for December.

AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE

AFRICAN AMERICAN MEN: 5.3%

AFRICAN AMERICAN WOMEN: 4.8% 

AFRICAN AMERICAN TEENAGERS: 11.6%

AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE

AFRICAN AMERICAN MEN: 69.4%

AFRICAN AMERICAN WOMEN: 62.9%

AFRICAN AMERICAN TEENAGERS: 31.6%

Analysis: African American Men saw an increase in their unemployment rates by 70 basis points while African American Women remain unchanged for a third straight month from December. African American Men increased and Women decreased in their participation rate from December of 20 basis points and 30 basis points, respectively. African American Teenagers unemployment rate plumets by 640 basis points. They also had their participation rate increase by 90 basis points.

African American Men-Women Job Gap: African American Women currently have 728,000 more jobs than African American Men in January. This is an increase from 665,000 in December.

CONCLUSION: The overall economy added 335,000 jobs in January while African America loss 65,000 jobs. From Bloomberg, “Gains were broad-based across sectors, led by professional and business services, health care, retail trade and social assistance. Nearly all sectors, except mining and gas extraction, saw additional jobs in January. Wages skyrocketed on the month and from the prior year, both above what economists expected to see. Average hourly earnings were up 0.6% from the prior month, double the average estimate, and rose 4.5% from the prior year. Part of the outsize gains could be attributed to reduced hours, which tend to distort pay. Hours worked fell to the lowest since March 2020.”

Leave a comment

Posted in Economics

Tagged , , , , , ,

African America’s December 2023 Jobs Report – 5.2%

Posted on January 8, 2024 by | Leave a comment

OVERALL UNEMPLOYMENT: 3.7%

AFRICAN AMERICA: 5.2%

LATINO AMERICA: 5.0%

EUROPEAN AMERICA: 3.5%

ASIAN AMERICA: 3.1%

Analysis: European and Latino Americans both saw an increase in their unemployment rate from November with an increase of 20 and 40 basis points, respectively. African and Asian Americans both had decreases in their unemployment rate with decreases of 60 and 40 basis points for both groups from November, respectively.

AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE

AFRICAN AMERICAN MEN: 4.6%

AFRICAN AMERICAN WOMEN: 4.8% 

AFRICAN AMERICAN TEENAGERS: 18.0%

AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE

AFRICAN AMERICAN MEN: 69.2%

AFRICAN AMERICAN WOMEN: 63.2%

AFRICAN AMERICAN TEENAGERS: 30.7%

Analysis: African American Men saw a significant decrease in their unemployment rates by 180 basis points while African American Women remain unchanged from November. African American Men and Women both had decreases in their participation rate from November of 10 basis points and 40 basis points, respectively. Extreme volatility with African American Teenagers remains as their unemployment rate skyrocketed by 5800 basis points, but also seeing their participation rate decrease by 80 basis points.

African American Men-Women Job Gap: African American Women currently have 665,000 more jobs than African American Men in December. This is a decrease from 890,000 in November.

CONCLUSION: The overall economy added 216,000 jobs in December while African America gained 66,000 jobs. From NPR, “For all of 2023, employers added 2.7 million jobs. That’s a slowdown from the two previous years, when the economy was red-hot, rapidly rebounding from pandemic layoffs. But last year’s job growth was still stronger than every other year since 2015.”

Leave a comment

Posted in Economics

Tagged , , , , , , , , ,

African America’s November 2023 Jobs Report – 5.8%

Posted on December 11, 2023 by | 1 comment

OVERALL UNEMPLOYMENT: 3.9%

AFRICAN AMERICA: 5.8%

LATINO AMERICA: 4.6%

EUROPEAN AMERICA: 3.3%

ASIAN AMERICA: 3.5%

Analysis: Asian Americans were the only group to see an increase in their unemployment rate from October with a 40 basis point increase. European and Latino American both had decreases in their unemployment rate with a 20 basis point decrease for both groups from October.

AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE

AFRICAN AMERICAN MEN: 6.4%

AFRICAN AMERICAN WOMEN: 4.8% 

AFRICAN AMERICAN TEENAGERS: 12.2%

AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE

AFRICAN AMERICAN MEN: 69.2%

AFRICAN AMERICAN WOMEN: 63.6%

AFRICAN AMERICAN TEENAGERS: 31.6%

Analysis: African American Men and Women saw an increase and decrease in their unemployment rates by 110 and 50 basis points, respectively. African American Men saw a 170 basis point increase in their participation rate from October while African American Women had a 10 basis point decrease in their participation rate from October. African American Teenagers remain an extremely volatile group with their unemployment rate plummet by 660 basis points, but also seeing their participation rate increase by 60 basis points.

African American Men-Women Job Gap: African American Women currently have 890,000 more jobs than African American Men in November. This is a decrease from 970,000 in October.

CONCLUSION: The overall economy added 199,000 jobs in November while African America gained 264,000 jobs. From CNBC, “The data first raised concerns that the economy was running too hot for inflation to cool enough for the Fed to start retreating from its high-rates policy. Some traders expect the Fed to start cutting rates as early as next spring, with its latest policy meeting set for Wednesday.”

1 Comment

Posted in Economics

Tagged , , , , , ,