Overall Unemployment: 7.0% (7.3%)
African America Unemployment: 12.5% (13.1%)
Latino America Unemployment: 8.7% (9.1%)
European America Unemployment: 6.2% (6.3%)
Asian America Unemployment: 5.3% (5.2%)
Previous month in parentheses.
Analysis: Overall unemployment dropped by 30 basis points. African and Latino American unemployment rates saw significant declines, while European America saw a negligible decline. Asian America’s unemployment rate saw a rise by 10 basis points, but remains the group with the lowest unemployment rate. African American despite its drop remains the only group with a double digit unemployment rate.
African American Male Unemployment: 12.3% (13.0%)
African American Female Unemployment: 11.1% (11.5%)
African American Teenage Unemployment: 35.8% (36.0%)
African American Male Participation: 66.6% (66.8%)
African American Female Participation: 61.4% (61.3%)
African American Teenage Participation: 26.5% (27.3%)
Previous month in parentheses.
Analysis: African American male unemployment rate drops, but their participation also continues to drop. The AAM participation rate is at a five month low. African American female unemployment rate saw a 40 basis point decline, while the second month in a row saw their participation rate tick up 10 basis points. The African American teenage group saw its unemployment rate decline by 20 points, and like the male group saw a second straight month of declines in their participation rate. Participation rate for teenagers has dropped 290 basis points off its five month high.
Conclusion: The overall economy added 203 000 jobs. African America saw its employed ranks rise by 101 000. Unfortunately, the participation rate dropped again dropping to its lowest over the past five months negating any euphoria of the job additions. Last month was a brutal month with five month lows in almost every statistical category for employment for African Americans making November a month more focused on recouping the losses. Just how much of the employment additions are seasonal hires for the holidays will not be known until February when companies will start to shed seasonal hires. The labor force also continues to shrink and is at its lowest number over the past five months as African Americans continue to feel job prospects are simply not there and are simply giving up on looking. Those not in the labor force cracked 12 million for the first time. Times are tough for the African America labor situation with no signs of improvement as 2013 crawls to a close.
