Tag Archives: african american unemployment rate

African America’s October Jobs Report – 8.6%

Posted on November 13, 2016 by | Leave a comment

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Overall Unemployment: 4.9% (5.0%)

African America Unemployment: 8.6% (8.3%)

Latino America Unemployment: 5.7% (6.4%)

European America Unemployment: 4.3% (4.4%)

Asian America Unemployment: 3.4% (3.9%)

Previous month in parentheses.

Analysis: Overall unemployment was virtually unchanged. All groups except African America saw a decline in their unemployment rate, who saw a 30 basis point increase in their unemployment rate. Asian, European, and Latino America saw declines of 50, 10, and 70 basis points, respectively.

African American Male Unemployment: 8.7% (8.2%)

African American Female Unemployment: 7.1% (7.0%)

African American Teenage Unemployment: 27.6% (27.2%)

African American Male Participation: 67.5% (67.5%)

African American Female Participation: 62.3% (62.3%)

African American Teenage Participation: 28.3% (30.2%)

Analysis: African American men saw a 50 basis point increase in their unemployment and no change in their participation rate. African American women saw a 10 basis point increase in their unemployment rate and no change in their participation rate. African American teenagers saw a 40 basis point increase in their unemployment rate and a 190 basis point decrease in their participation rate.

CONCLUSION: The overall economy added 161 000 jobs in October. A marginal difference between the 156 000 in September. African America saw a decline of 70 000 jobs in October. The last jobs report before 2016 U.S. presidential election. What does African America’s outlook like now there is a president-elect Donald Trump? It is truly hard to say. The natural reaction is visceral, but there is the possibility that his election continues to galvanize African America to invest in itself and become less dependent on other groups.

African America currently needs 723 000 jobs to match America’s unemployment rate. An increase of 89 000 jobs from August.

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African America’s August Jobs Report – 8.1%

Posted on September 5, 2016 by | Leave a comment

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Overall Unemployment: 4.9% (4.9%)

African America Unemployment: 8.1% (8.4%)

Latino America Unemployment: 5.6% (5.4%)

European America Unemployment: 4.4% (4.3%)

Asian America Unemployment: 4.2% (3.8%)

Previous month in parentheses.

Analysis: Overall unemployment was unchanged. All groups except African America saw a rise in their unemployment rate, who saw a 30 basis point decline in their unemployment rate. Asian, European, and Latino America saw rises of 40, 10, and 20 basis points, respectively.

African American Male Unemployment: 7.6% (8.2%)

African American Female Unemployment: 7.1% (7.3%)

African American Teenage Unemployment: 26.1% (25.7%)

African American Male Participation: 67.3% (67.7%)

African American Female Participation: 62.2% (61.0%)

African American Teenage Participation: 31.6% (27.7%)

Analysis: African American men saw a 60 basis point decline in their unemployment, but also saw a 40 basis point decline in their participation rate. African American women saw a 20 basis point decline in their unemployment rate, but a 120 basis point increase in their participation rate. African American teenagers saw 40 basis point increase in their unemployment rate, but a 390 basis point increase in their participation rate.

CONCLUSION:The overall economy added 151 000 jobs in August. A significant drop the 255 000 in July. However, African America added an unprecedented 280 000 jobs in August after only 31 000 jobs in July. This marks only the second time since HBCU Money started reporting the African American Jobs Report that African America’s job growth has outpaced overall America. The overall jobs though did come in less than estimates of 180 000, which has many questioning whether or not the Federal Reserve and Chairwoman Janet Yellen will actually raise rates or continue to kick the can down the road.

African America currently needs 634 000 jobs to match America’s unemployment rate. A decrease of 46 000 from July.

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African America’s July Jobs Report – 8.4%

Posted on August 8, 2016 by | Leave a comment

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Overall Unemployment: 4.9% (4.9%)

African America Unemployment: 8.4% (8.6%)

Latino America Unemployment: 5.4% (5.8%)

European America Unemployment: 4.3% (4.4%)

Asian America Unemployment: 3.8% (3.5%)

Previous month in parentheses.

Analysis: Overall unemployment was unchanged. All groups except Asian America saw a decline in their unemployment rate, who saw a 30 basis point increase in their unemployment rate. Latino America led the way with the largest decrease of 40 basis points, followed by African America’s 20 basis points, and lastly, European America’s 10 basis points.

African American Male Unemployment: 8.2% (8.2%)

African American Female Unemployment: 7.3% (7.3%)

African American Teenage Unemployment: 25.7% (31.2%)

African American Male Participation: 67.7% (67.8%)

African American Female Participation: 61.0% (60.9%)

African American Teenage Participation: 27.7% (29.2%)

Analysis: African American men unemployment rate was unchanged, with 10 basis point decrease in their participation rate. African American women unemployment rate was also unchanged, but a 10 basis point increase in their participation rate. African American teenagers had an decrease of 550 basis points in their unemployment rate, but had a worrisome 150 basis point decrease in their participation rate.

CONCLUSION: The overall economy added 255 000 jobs in July. African America added only 31 000 jobs in July, a decline from June’s AAJR of 32 000. Again, two straight months of anemic jobs growth for African America after adding 122 000 jobs in May. However, these figures are in line with traditional jobs growth for African America, while May was an anomaly. If there is a current silver lining for African America, it is our banking industry. With an explosion in new deposits and demand for even more new deposits, African American owned banks and credit unions could see a need to increase employment to handle the new demand. That is the short term optimism, while the long term gain could be in new lending for African American small businesses.

African America currently needs 680 000 jobs to match America’s unemployment rate.

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African America’s June Jobs Report – 8.6%

Posted on July 11, 2016 by | Leave a comment

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Overall Unemployment: 4.9% (4.7%)

African America Unemployment: 8.6% (8.2%)

Latino America Unemployment: 5.8% (5.6%)

European America Unemployment: 4.4% (4.1%)

Asian America Unemployment: 3.5% (4.1%)

Previous month in parentheses.

Analysis: Overall unemployment rose 20 basis points. All groups except Asian America saw a rise in their unemployment rate, who saw a 60 basis point decline in their unemployment rate. African America led the way with the largest increase of 40 basis points, followed by European America’s 30 basis points, and Latino America’s 20 basis points.

African American Male Unemployment: 8.2% (7.6%)

African American Female Unemployment: 7.3% (7.4%)

African American Teenage Unemployment: 31.2% (27.1%)

African American Male Participation: 67.8% (67.1%)

African American Female Participation: 60.9% (61.0%)

African American Teenage Participation: 29.2% (28.7%)

Analysis: African American men had a increase of 60 basis points in their unemployment rate, but also experienced a 70 basis point increase in their participation rate. African American women had a decrease of 10 basis points in their unemployment rate, but a 10 basis point decrease in their participation rate. African American teenagers had an increase of 410 basis points in their unemployment rate, but only experienced a 50 basis point increase in their participation rate.

CONCLUSION: The overall economy added 287 000 jobs in June. African America added only 32 000 jobs in June, making May look like an anomaly when African America gained more jobs than the overall economy. It is hard to be overly excited about June’s numbers after May produced only 38 000 jobs overall. A student who gets a 100 and a 0 on test, still has a F average. However, if July delivers a modestly decent number, it could allow the Federal Reserve to put a rate hike back in play for September, which we are still not sure the economy or market is ready for, but desperately needs to heal itself from a decade of fictional interest rates. The fictional interest rates have killed lending and savings and therefore hampered the creation of small business creation in the country. Those are long-term issues though, but issues nonetheless. In the short term, cultural backlash against African America may have some negative labor impact for the rest of the year given African America’s employment dependency on others.

African America needs to create 721 000 jobs to match the nation’s overall unemployment rate.

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African America’s March Jobs Report – 9.0%

Posted on April 4, 2016 by | 1 comment

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Overall Unemployment: 5.0% (4.9%)

African America Unemployment: 9.0% (8.8%)

Latino America Unemployment: 5.6% (5.4%)

European America Unemployment: 4.3% (4.3%)

Asian America Unemployment: 4.0% (3.8%)

Previous month in parentheses.

Analysis: Overall unemployment rose slightly in the month of March from the previous month. No group to experienced a decline, while European America was the only group to go unchanged. All other groups saw 20 basis point increases in their unemployment rates.

African American Male Unemployment: 8.7% (8.6%)

African American Female Unemployment: 8.0% (7.9%)

African American Teenage Unemployment: 25.3% (23.3%)

African American Male Participation: 67.2% (67.5%)

African American Female Participation: 61.5% (62.0%)

African American Teenage Participation: 30.5% (28.8%)

Previous month in parentheses.

Analysis:African American males had a 10 basis point increase in their unemployment rate and a 30 basis point decrease in their participation rate. African American females had a 10 basis point increase in their unemployment rate and a 50 basis point decrease in their participation rate. African American teenagers unemployment rate increased 200 basis points and participation rate experienced an increase of 170 basis points.

CONCLUSION: The overall economy added 215 000 jobs in March. African America lost 92 000 jobs in March marking the first decrease in the past five months. The African American labor force also pulled back with a decline of almost 60 000 after three months of growth. Thankfully, participation rate over the past five months remains virtually unchanged meaning that African America’s employment situation is basically doggy paddling in the middle of the economic ocean, still. While some believe that improving job conditions are pulling the rest of the nation off the sideline, it appears to be sending African American to it. This could be largely dependent on the types of jobs and where African America is concentrated. An unusual rise for African American teenagers participation rate, while the adults declined. The market and economy are showing modest growth, but the true sustainability of it remains to be seen with so many negative marks in the global macroeconomic environment.

African American needs an increase of 779 000 jobs to match the country’s unemployment rate – an increase of 20 000 jobs from the previous month.

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