Tag Archives: african american unemployment rate

African America’s January Jobs Report – 7.7%

Posted on February 5, 2017 by | Leave a comment

jobs

Overall Unemployment: 4.8% (4.7%)

African America Unemployment: 7.7% (7.8%)

Latino America Unemployment: 5.9% (5.9%)

European America Unemployment: 4.3% (4.3%)

Asian America Unemployment: 3.7% (2.6%)

Previous month in parentheses.

Analysis: Overall unemployment rose 10 basis points. African America was the only decline in unemployment rate with a decrease of 10 basis points. Asian America saw the largest increase with a rise of 110 basis points European and Latino America both went unchanged.

African American Male Unemployment: 7.6% (7.3%)

African American Female Unemployment: 6.7% (6.8%)

African American Teenage Unemployment: 26.9% (25.7%)

African American Male Participation: 68.1% (67.7%)

African American Female Participation: 62.6% (62.3%)

African American Teenage Participation: 30.4% (27.6%)

Analysis: African American men saw a 30 basis point increase in their unemployment and 40 basis point increase in their participation rate. African American women saw a 10 basis point decrease in their unemployment rate and 30 basis point increase in their participation rate. African American teenagers saw a 120 basis point increase in their unemployment rate and a 280 basis point increase in their participation rate.

CONCLUSION: The overall economy added 227 000 jobs in January. A noticeable difference from the 156 000 in December. African America added a sizzling 153 000 jobs in January to begin the year. The official last jobs report for the Obama administration and the first jobs report of the Trump administration. For the Trump administration, this jobs report could largely signal how the business community feels about the incoming presidency and the momentum since the election. It appears that yes, even African America feels optimistic. A real surprise if you take the pulse of social media, but social media can often be a contradictory bubble highlighting people’s social values and not necessarily their economic needs or perceptions. In all fairness, the inertia in the fundamentals of the economy are driving much of this and regardless of who was going to be president there appears to be a bit more room to run in economic growth. A fact that could lead to a record breaking 20 million African Americans going into the labor force if the trend holds up in February.

African America currently needs 662 000 jobs to match America’s unemployment rate. An increase of 43 000 jobs from December.

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African America’s December Jobs Report – 7.8%

Posted on January 8, 2017 by | Leave a comment

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Overall Unemployment: 4.7% (4.6%)

African America Unemployment: 7.8% (8.0%)

Latino America Unemployment: 5.9% (5.7%)

European America Unemployment: 4.3% (4.2%)

Asian America Unemployment: 2.6% (3.0%)

Previous month in parentheses.

Analysis: Overall unemployment rose 10 basis points to its lowest since August 2007. African and Asian America saw a decline in their unemployment rate, 20 and 40 basis points, respectively. European and Latino America saw increases of 10 and 20 basis points, respectively.

African American Male Unemployment: 7.6% (7.7%)

African American Female Unemployment: 6.8% (7.1%)

African American Teenage Unemployment: 25.7% (26.6%)

African American Male Participation: 67.7% (67.5%)

African American Female Participation: 62.3% (62.6%)

African American Teenage Participation: 27.6% (27.9%)

Analysis: African American men saw a 10 basis point decrease in their unemployment and 20 basis point increase in their participation rate. African American women saw a 30 basis point decrease in their unemployment rate and 30 basis point decrease in their participation rate. African American teenagers saw a 90 basis point decrease in their unemployment rate and a 30 basis point decrease in their participation rate.

CONCLUSION: The overall economy added 156 000 jobs in December. A noticeable difference from the 178 000 in November. African America added a marginal 30 000 jobs in December to end the year. The last jobs report of the Obama Administration shows an African America with some of its strongest employment numbers overall. However, African American teenagers continue to be a flash point of crisis and the African American participation rate remains 100 basis points below Asians and European America. A notable problem given the median income for African American being the lowest of all groups. Wages seem to be heating up across the board, which is a much needed sign for African America.

African America currently needs 619 000 jobs to match America’s unemployment rate. An increase of 114 000 jobs from November.

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African America’s October Jobs Report – 8.6%

Posted on November 13, 2016 by | Leave a comment

jobs

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

jobs

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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