Category Archives: Economics

Overall Unemployment: 6.7% (6.7%)

African America Unemployment: 12.4% (12.0%)

Latino America Unemployment: 7.9% (8.1%)

European America Unemployment: 5.8% (5.8%)

Asian America Unemployment: 5.4% (6.0%)

Previous month in parentheses.

Analysis: Overall the unemployment rate went unchanged. Asian and Latino America both saw declines in their unemployment rates of 60 and 20 basis points, respectively. European America went unchanged. African America saw an increase of 40 basis points and remains the only group with double digit unemployment rate.

African American Male Unemployment: 12.1% (12.9%)

African American Female Unemployment: 11.0% (9.9%)

African American Teenage Unemployment: 36.1% (32.4%)

African American Male Participation: 67.0% (66.6%)

African American Female Participation: 62.0% (61.9%)

African American Teenage Participation: 25.6% (24.9%)

Previous month in parentheses.

Analysis: African American male unemployment saw a decline of 80 basis points, but females and teenagers both saw significant increases of 110 and 370 basis points, respectively. Participation rates for all three groups saw increases in their participation rates.

Conclusion: The overall economy added 192 000 jobs. An increase of 17 000 over February’s numbers, but still short of the majority of economist estimates. A sluggish effect from the winter storms appears to be still dragging. African America added 21 000 jobs for March. The number of employed African Americans and participation rate is at its highest in the past five months. African America’s labor force is at its highest number in the past five months, but so is the number of unemployed. Both of these factors have a significant factor on increasing the unemployment rate. There is renewed optimism for African American job seekers, but it would take an increase of 462 000 new jobs just for African America to get its unemployment rate under 10 percent at the current labor force numbers. An amount well over 100 percent above what the entire country is currently producing. This is also the smallest number of jobs African America has added in the past five months so even though most of the marks looks good, it appears to be more like the best sweater in an ugly sweater party.

Overall Unemployment: 6.6% (6.7%)

African America Unemployment: 12.1% (11.9%)

Latino America Unemployment: 8.4% (8.3%)

European America Unemployment: 5.7% (5.9%)

Asian America Unemployment: 4.8% (4.1%)

Previous month in parentheses.

Analysis: Overall unemployment dropped 10 basis points. European America is the only group who saw their unemployment rate decline among all groups. Asian America had the largest increase among all groups. African American remains the only group with double digit unemployment rate.

African American Male Unemployment: 12.0% (11.5%)

African American Female Unemployment: 10.4% (10.4%)

African American Teenage Unemployment: 38.0% (35.5%)

African American Male Participation: 66.2% (65.6%)

African American Female Participation: 61.5% (61.2%)

African American Teenage Participation: 26.4% (27.4%)

Previous month in parentheses.

Analysis: A positive gain in participation rate for both men and women groups. Unemployment rates rose for both men and teenager groups. The teenager group hit a new low in their participation rate in the rolling past five months.

Conclusion: The overall economy added 113 000 jobs. Dubbed another disappointing month by economist as it missed estimates. African America’s labor force rose to its second largest number in the past five months increasing by 157 000 showing potential optimism brewing. However, only 95 000 jobs were added keeping the overall participation rate for African America at its second lowest over the past rolling five months. The participation rate for women remains virtually unchanged over the past rolling five months. African American men are at the second lowest participation rate in the past rolling five months. The good news, men and women have the largest employed population over the past rolling five months coupled with budding optimism for the adult population. African America’s employment issues just can not seem to find stable footing for long enough to make any dent. We are not back treading at the moment, but we are certainly not making any progress.

Overall Unemployment: 6.7% (7.0%)

African America Unemployment: 11.9% (12.4%)

Latino America Unemployment: 8.3% (8.7%)

European America Unemployment: 5.9% (6.2%)

Asian America Unemployment: 4.1% (5.3%)

Previous month in parentheses.

Analysis: Overall unemployment sees another 30 basis point drop. All groups saw drops in their unemployment rates. Asian America saw the most significant decline with a 120 basis point drop. Despite a 60 basis point drop, the African American unemployment rate remains the only one in double digits.

African American Male Unemployment: 11.5% (12.1%)

African American Female Unemployment: 10.4% (11.1%)

African American Teenage Unemployment: 35.5% (35.7%)

African American Male Participation: 65.6% (66.3%)

African American Female Participation: 61.2% (61.4%)

African American Teenage Participation: 27.4% (26.5%)

Previous month in parentheses.

Analysis: All three groups saw drops in their unemployment rates, but only the teenage group saw its participation rates rise.

Conclusion: The overall economy added 74 000 jobs last month. This was the lowest overall figure in the past three years raising concerns about the Federal Reserve’s continued quantitative easing policy. African America’s labor force dropped by 81 000 largely explaining the significant drop in the unemployment rate. The number of employed increased for African America by only 17 000. Despite how bad it looks, the number of employed actually is the second highest number in the past five months. This is somewhat unsettling given the amount of season hires potentially baked into the statistics. As employers start to unwind these temporary hires over the next few months a clearer picture of African America’s employment situation should come to bear.