Category Archives: Economics

Unemployment Rate By HBCU State – March 2017


STATES WITH RISING UNEMPLOYMENT: 5

STATES WITH DECLINING UNEMPLOYMENT: 16

STATES WITH UNCHANGED UNEMPLOYMENT: 3

LOWEST: ARKANSAS & MASSACHUSETTS – 3.6%

HIGHEST: ALABAMA & DISTRICT OF COLUMBIA – 5.8%

STATE – UNEMPLOYMENT RATE (PREVIOUS)*

ALABAMA –  5.8% (6.2%)

ARKANSAS – 3.6% (3.7%)

CALIFORNIA – 4.9% (5.0%)

DELAWARE – 4.5% (4.5%)

DISTRICT OF COLUMBIA – 5.8% (5.7%)

FLORIDA – 4.8% (5.0%)

GEORGIA – 5.1% (5.3%)

ILLINOIS – 4.9% (5.4%)

KENTUCKY – 5.0% (4.9%)

LOUISIANA – 5.7% (5.8%)

MARYLAND – 4.3% (4.2%)

MASSACHUSETTS – 3.6% (3.4%)

MICHIGAN – 5.1% (5.3%)

MISSISSIPPI – 5.0% (5.2%)

MISSOURI –  3.9% (4.1%)

NEW YORK – 4.3% (4.4%)

NORTH CAROLINA – 4.9% (5.1%)

OHIO – 5.1% (5.1%)

OKLAHOMA – 4.3% (4.6%)

PENNSYLVANIA – 4.8% (5.0%)

SOUTH CAROLINA – 4.4% (4.4%)

TENNESSEE – 5.1% (5.3%)

TEXAS – 5.0% (4.9%)

VIRGINIA – 3.8% (3.9%)

*Previous month in parentheses.

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African America’s April Jobs Report – 7.9%


Overall Unemployment: 4.4% (4.5%)

African America Unemployment: 7.9% (8.0%)

Latino America Unemployment: 5.2% (5.1%)

European America Unemployment: 3.8% (3.9%)

Asian America Unemployment: 3.2% (3.3%)

Previous month in parentheses.

Analysis: Overall unemployment dropped by 10 basis points. This is the lowest unemployment rate since May 2007. All groups had 10 basis point drops except for Latino America who experienced a 10 basis point increase.

African American Male Unemployment: 7.3% (8.2%)

African American Female Unemployment: 6.9% (6.6%)

African American Teenage Unemployment: 29.3% (24.3%)

African American Male Participation: 68.3% (68.1%)

African American Female Participation: 62.7% (62.7%)

African American Teenage Participation: 30.8% (27.7%)

Analysis: African American Males saw a 90 basis point decrease in unemployment rate and 20 basis point increase in their participation rate. African American Females had a 30 basis point increase in their unemployment rate, while the participation rate went unchanged. Lastly, African American Teenagers unemployment rose by 500 basis points, but also had 310 basis point increase in their participation rate which is the highest over the past five months.

African American Male-Female Job Gap: 974 000 jobs (1.113 million jobs)

CONCLUSION: The overall economy added 211 000 jobs in April. This is versus an expected 185 000 by surveyed economists. African America added a significant 105 000 jobs. The positive numbers across the board should help the Federal Reserve move to a rate hike in June. This is the highest employed number, labor force, and participation rate over the past five months for African America. What is driving this continued push up in jobs? Job growth has been largely concentrated in low-wage areas where African Americans make up a disproportionate amount of the labor force. It continues to be a hold your breath month to month with the economy so late in the economic cycle.

African America currently needs 713 000 jobs to match America’s unemployment rate. A decrease of 20 000 from March.

Unemployment Rate By HBCU State – February 2017


STATES WITH RISING UNEMPLOYMENT: 5

STATES WITH DECLINING UNEMPLOYMENT: 15

STATES WITH UNCHANGED UNEMPLOYMENT: 4

LOWEST: MASSACHUSETTS – 3.4%

HIGHEST – ALABAMA – 6.2%

STATE – UNEMPLOYMENT RATE (PREVIOUS)*

ALABAMA –  6.2% (6.4%)

ARKANSAS – 3.7% (3.8%)

CALIFORNIA – 5.0% (5.1%)

DELAWARE – 4.5% (4.4%)

DISTRICT OF COLUMBIA – 5.7% (5.7%)

FLORIDA – 5.0% (5.0%)

GEORGIA – 5.3% (5.5%)

ILLINOIS – 5.4% (5.7%)

KENTUCKY – 4.9% (5.0%)

LOUISIANA – 5.8% (5.9%)

MARYLAND – 4.2% (4.2%)

MASSACHUSETTS – 3.4% (3.2%)

MICHIGAN – 5.3% (5.2%)

MISSISSIPPI – 5.2% (5.5%)

MISSOURI –  4.1% (4.2%)

NEW YORK – 4.4% (4.6%)

NORTH CAROLINA – 5.1% (5.3%)

OHIO – 5.1% (5.0%)

OKLAHOMA – 4.6% (4.7%)

PENNSYLVANIA – 5.0% (5.2%)

SOUTH CAROLINA – 4.4% (4.4%)

TENNESSEE – 5.3% (5.4%)

TEXAS – 4.9% (4.8%)

VIRGINIA – 3.9% (4.0%)

*Previous month in parentheses.

African America’s March Jobs Report – 8.0%


Overall Unemployment: 4.5% (4.7%)

African America Unemployment: 8.0% (8.1%)

Latino America Unemployment: 5.1% (5.6%)

European America Unemployment: 3.9% (4.1%)

Asian America Unemployment: 3.3% (3.4%)

Previous month in parentheses.

Analysis: Overall unemployment dropped 20 basis points. All groups saw a decline, led by Latino America with 50 basis points.

African American Male Unemployment: 8.2% (7.8%)

African American Female Unemployment: 6.6% (7.1%)

African American Teenage Unemployment: 24.3% (24.3%)

African American Male Participation: 68.1% (67.8%)

African American Female Participation: 62.7% (62.7%)

African American Teenage Participation: 27.7% (30.0%)

Analysis: African American males saw an increase of 40 basis points, while females saw a decrease of 50 basis points in unemployment rates. African American teenagers saw a decrease of 230 basis points in their participation rate, the lowest number in the past five months.

CONCLUSION:  The overall economy added 98 000 jobs in March. A grave disappointment from the 235 000 jobs added in February and approximately half of the 180 000 many economist expected. Many will point to two major stumbling blocks in the economy right now being lack of tax cuts and infrastructure build that would provide stimulus to the economy. It is worth noting that over the past month, ETF indexes that short each of the major indexes have been begun to trend upward. A sign that the air maybe coming out of one of the longest bull runs after a recession in history.

African America currently needs 693 000 jobs to match America’s unemployment rate. An decrease of 45 000 from February.

 

Unemployment Rate By HBCU State – January 2017


STATES WITH RISING UNEMPLOYMENT: 12

STATES WITH DECLINING UNEMPLOYMENT: 10

STATES WITH UNCHANGED UNEMPLOYMENT: 2

LOWEST: MASSACHUSETTS – 3.2%

HIGHEST – ALABAMA – 6.4%

STATE – UNEMPLOYMENT RATE (PREVIOUS)*

ALABAMA –  6.4% (6.2%)

ARKANSAS – 3.8% (3.9%)

CALIFORNIA – 5.1% (5.2%)

DELAWARE – 4.4% (4.3%)

DISTRICT OF COLUMBIA – 5.7% (5.8%)

FLORIDA – 5.0% (4.9%)

GEORGIA – 5.5% (5.4%)

ILLINOIS – 5.7% (5.7%)

KENTUCKY – 5.0% (4.8%)

LOUISIANA – 5.9% (6.1%)

MARYLAND – 4.2% (4.2%)

MASSACHUSETTS – 3.2% (2.8%)

MICHIGAN – 5.2% (5.0%)

MISSISSIPPI – 5.5% (5.6%)

MISSOURI –  4.2% (4.4%)

NEW YORK – 4.6% (4.9%)

NORTH CAROLINA – 5.3% (5.1%)

OHIO – 5.0% (4.9%)

OKLAHOMA – 4.7% (5.0%)

PENNSYLVANIA – 5.2% (5.6%)

SOUTH CAROLINA – 4.4% (4.3%)

TENNESSEE – 5.4% (4.9%)

TEXAS – 4.8% (4.6%)

VIRGINIA – 4.0% (4.1%)

*Previous month in parentheses.