Category Archives: Economics

Unemployment Rate By HBCU State – April 2017


STATES WITH RISING UNEMPLOYMENT: 6

STATES WITH DECLINING UNEMPLOYMENT: 11

STATES WITH UNCHANGED UNEMPLOYMENT: 7

LOWEST: ARKANSAS – 3.5%

HIGHEST: DISTRICT OF COLUMBIA – 5.9%

STATE – UNEMPLOYMENT RATE (PREVIOUS)*

ALABAMA –  5.4% (5.8%)

ARKANSAS – 3.5% (3.6%)

CALIFORNIA – 4.8% (4.9%)

DELAWARE – 4.6% (4.5%)

DISTRICT OF COLUMBIA – 5.9% (5.8%)

FLORIDA – 4.5% (4.8%)

GEORGIA – 5.0% (5.1%)

ILLINOIS – 4.7% (4.9%)

KENTUCKY – 5.1% (5.0%)

LOUISIANA – 5.8% (5.7%)

MARYLAND – 4.3% (4.3%)

MASSACHUSETTS – 3.9% (3.6%)

MICHIGAN – 4.7% (5.1%)

MISSISSIPPI – 5.0% (5.0%)

MISSOURI –  3.9% (3.9%)

NEW YORK – 4.3% (4.3%)

NORTH CAROLINA – 4.7% (4.9%)

OHIO – 5.0% (5.1%)

OKLAHOMA – 4.3% (4.3%)

PENNSYLVANIA – 4.9% (4.8%)

SOUTH CAROLINA – 4.3% (4.4%)

TENNESSEE – 4.7% (5.1%)

TEXAS – 5.0% (5.0%)

VIRGINIA – 3.8% (3.8%)

*Previous month in parentheses.

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African America’s May Jobs Report – 7.5%


Overall Unemployment: 4.3% (4.4%)

African America Unemployment: 7.5% (7.9%)

Latino America Unemployment: 5.2% (5.2%)

European America Unemployment: 3.7% (3.8%)

Asian America Unemployment: 3.6% (3.2%)

Previous month in parentheses.

Analysis: Overall unemployment dropped by 10 basis points to a 16 year low. African America dropped by 40 basis points, the largest drop among all groups. Asian America saw a 40 basis point increase, but remains lowest among all groups. European and Latino America had negligible change.

African American Male Unemployment: 6.5% (7.3%)

African American Female Unemployment: 7.0% (6.9%)

African American Teenage Unemployment: 27.3% (29.3%)

African American Male Participation: 67.5% (68.3%)

African American Female Participation: 62.9% (62.7%)

African American Teenage Participation: 31.3% (30.8%)

Analysis: African American Males had a 80 basis point drop in their unemployment and participation rate. This after three months straight of participation rate growth. African American Females had a slight uptick in unemployment and participation rates. Their participation rate has been virtually unchanged for the past five months. African American Teenagers had a 200 basis point decrease in unemployment rate and 30 basis point increase in their participation as they post a five month high in jobs.

African American Male-Female Job Gap: 1 038 000 jobs (974 000 jobs)

CONCLUSION: The overall economy added 138 000 jobs in May. This is versus an expected 185 000 by surveyed economists. African America saw an increase of 46 000 jobs, but quite a pullback after over 100 000 jobs in April. Despite strong numbers, many can not help but feel apprehensive about the economy’s sluggishness. An expected rate hike in June is still on the table, but it is less certain after two months straight of missed expectations. African America continues to push forward under the Trump administration with its highest employed numbers seeing an increase every month thus far. We know the economy is overdue for a recession, but it is by no means overheated leaving most economist in unfamiliar territory of just what happens going forward.

African America currently needs 717 000 jobs to match America’s unemployment rate. A increase of 4 000 from April.

 

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.

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.