OVERALL UNEMPLOYMENT: 3.8%
AFRICAN AMERICAN: 5.3%
LATINO AMERICAN: 4.9%
EUROPEAN AMERICAN: 3.4%
ASIAN AMERICAN: 3.1%
Analysis: African Americans were the only group to see a decrease in their unemployment rate from July with a 50 basis point decrease. Asian American led all others with the largest increase in unemployment rate with a 80 basis point increase from July.
AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE
AFRICAN AMERICAN MEN: 5.0%
AFRICAN AMERICAN WOMEN: 4.7%
AFRICAN AMERICAN TEENAGE: 16.9%
AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE
AFRICAN AMERICAN MEN: 68.4%
AFRICAN AMERICAN WOMEN: 62.7%
AFRICAN AMERICAN TEENAGE: 29.2%
Analysis: African American Men and Women both saw declines in their unemployment rates by 30 and 50 basis points, respectively. African American Men saw a 10 basis point increase in their participation rate from July while African American Women a 30 basis point decrease in their participation rate from July. African American Teenagers remain an extremely volatile group with their unemployment rate plummeting by 380 basis points, but also seeing their participation rate increase by 100 basis points.
African American Men-Women Job Gap: African American Women currently have 739,000 more jobs than African American Men in August. This is a decrease from 777,000 in July.
CONCLUSION: The overall economy added 187,000 jobs in August. African America added 100,000 jobs in August. From Reuters, “U.S. job growth picked up in August, but the unemployment rate jumped to 3.8% and wage gains moderated, suggesting that labor market conditions were easing and cementing expectations that the Federal Reserve will not raise interest rates this month. The closely watched employment report from the Labor Department on Friday also showed 736,000 people entered the job market last month, boosting the participation rate to the highest level in 3-1/2 years. Concerns about an economic slowdown are probably luring people back into the labor market.”
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HBCU Money 