Tag Archives: african american unemployment

African America’s April Jobs Report – 7.9%


Overall Unemployment: 4.4% (4.5%)

African America Unemployment: 7.9% (8.0%)

Latino America Unemployment: 5.2% (5.1%)

European America Unemployment: 3.8% (3.9%)

Asian America Unemployment: 3.2% (3.3%)

Previous month in parentheses.

Analysis: Overall unemployment dropped by 10 basis points. This is the lowest unemployment rate since May 2007. All groups had 10 basis point drops except for Latino America who experienced a 10 basis point increase.

African American Male Unemployment: 7.3% (8.2%)

African American Female Unemployment: 6.9% (6.6%)

African American Teenage Unemployment: 29.3% (24.3%)

African American Male Participation: 68.3% (68.1%)

African American Female Participation: 62.7% (62.7%)

African American Teenage Participation: 30.8% (27.7%)

Analysis: African American Males saw a 90 basis point decrease in unemployment rate and 20 basis point increase in their participation rate. African American Females had a 30 basis point increase in their unemployment rate, while the participation rate went unchanged. Lastly, African American Teenagers unemployment rose by 500 basis points, but also had 310 basis point increase in their participation rate which is the highest over the past five months.

African American Male-Female Job Gap: 974 000 jobs (1.113 million jobs)

CONCLUSION: The overall economy added 211 000 jobs in April. This is versus an expected 185 000 by surveyed economists. African America added a significant 105 000 jobs. The positive numbers across the board should help the Federal Reserve move to a rate hike in June. This is the highest employed number, labor force, and participation rate over the past five months for African America. What is driving this continued push up in jobs? Job growth has been largely concentrated in low-wage areas where African Americans make up a disproportionate amount of the labor force. It continues to be a hold your breath month to month with the economy so late in the economic cycle.

African America currently needs 713 000 jobs to match America’s unemployment rate. A decrease of 20 000 from March.

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African America’s March Jobs Report – 8.0%


Overall Unemployment: 4.5% (4.7%)

African America Unemployment: 8.0% (8.1%)

Latino America Unemployment: 5.1% (5.6%)

European America Unemployment: 3.9% (4.1%)

Asian America Unemployment: 3.3% (3.4%)

Previous month in parentheses.

Analysis: Overall unemployment dropped 20 basis points. All groups saw a decline, led by Latino America with 50 basis points.

African American Male Unemployment: 8.2% (7.8%)

African American Female Unemployment: 6.6% (7.1%)

African American Teenage Unemployment: 24.3% (24.3%)

African American Male Participation: 68.1% (67.8%)

African American Female Participation: 62.7% (62.7%)

African American Teenage Participation: 27.7% (30.0%)

Analysis: African American males saw an increase of 40 basis points, while females saw a decrease of 50 basis points in unemployment rates. African American teenagers saw a decrease of 230 basis points in their participation rate, the lowest number in the past five months.

CONCLUSION:  The overall economy added 98 000 jobs in March. A grave disappointment from the 235 000 jobs added in February and approximately half of the 180 000 many economist expected. Many will point to two major stumbling blocks in the economy right now being lack of tax cuts and infrastructure build that would provide stimulus to the economy. It is worth noting that over the past month, ETF indexes that short each of the major indexes have been begun to trend upward. A sign that the air maybe coming out of one of the longest bull runs after a recession in history.

African America currently needs 693 000 jobs to match America’s unemployment rate. An decrease of 45 000 from February.

 

African America’s February Jobs Report – 8.1%


Overall Unemployment: 4.8% (4.7%)

African America Unemployment: 8.1% (7.7%)

Latino America Unemployment: 5.6% (5.9%)

European America Unemployment: 4.1% (4.3%)

Asian America Unemployment: 3.4% (3.7%)

Previous month in parentheses.

Analysis: Overall unemployment went unchanged. All groups saw a decline, except for African America, with a 40 basis point increase. Asian and Latino America tied with decreases of 30 basis points.

African American Male Unemployment: 7.8% (7.3%)

African American Female Unemployment: 7.1% (6.7%)

African American Teenage Unemployment: 24.3% (26.9%)

African American Male Participation: 67.8% (68.1%)

African American Female Participation: 62.7% (62.6%)

African American Teenage Participation: 30.0% (30.4%)

Analysis: African American teenagers saw a decline by 260 basis points in their unemployment rate, while men and women saw increases. Only African American women saw a rise in their participation rate by 10 basis points, with men and teenagers seeing significant pullbacks in the area.

CONCLUSION: The overall economy added 235 000 jobs in February. A small uptick from the 227 000 in January, but well above the 190 000 estimates. This is the first jobs report of the Trump presidency and if the goal was to restore European America’s faith that this is their country, then the jobs report definitely reflects it. European Americans added a jaw dropping 429 000 jobs in February, while African America lost 67 000 jobs. A looming rate hike for March could push the economy closer to a recession even though the market seems to be barreling ahead, there is definitely signs of steam coming out in the deeper economic data.

African America currently needs 738 000 jobs to match America’s unemployment rate. An increase of 76 000 from January.

 

African America’s January Jobs Report – 7.7%


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.

African America’s November Jobs Report – 8.6%


jobs

Overall Unemployment: 4.6% (4.9%)

African America Unemployment: 8.1% (8.6%)

Latino America Unemployment: 5.7% (5.7%)

European America Unemployment: 4.2% (4.3%)

Asian America Unemployment: 3.0% (3.4%)

Previous month in parentheses.

Analysis: Overall unemployment dropped 30 basis points to its lowest since August 2007. All groups except Latino America saw a decline in their unemployment rate, who saw their unemployment rate go unchanged. African, Asian, and European America saw declines of 50, 40, and 10 basis points, respectively.

African American Male Unemployment: 7.7% (8.7%)

African American Female Unemployment: 7.1% (7.1%)

African American Teenage Unemployment: 26.6% (27.6%)

African American Male Participation: 67.5% (67.5%)

African American Female Participation: 62.6% (62.3%)

African American Teenage Participation: 28.0% (28.3%)

Analysis: African American men saw a 100 basis point decrease in their unemployment and no change in their participation rate. African American women saw no change in their unemployment rate and 30 basis point increase in their participation rate. African American teenagers saw a 100 basis point decrease in their unemployment rate and a 30 basis point decrease in their participation rate.

CONCLUSION: The overall economy added 178 000 jobs in November. A noticeable difference from the 161 000 in October. African America added a substantial 154 000 jobs in November. Leading to the highest African American employed numbers in the past five months. Unfortunately, despite such robust jobs growth in the month, the participation rate for African American moved only 10 basis points. The participation rate simply refusing to break from this five month bandwidth. All key variables were in the green in an unprecedented fashion, participation rate aside. The labor force increased, employed increased, and unemployed went down. December looms with a rate hike on the horizon and just how it will impact economic planning by small and big businesses alike will not be known for months. The psychological impact of the moment alone will be of significant given one has not happen in almost ten years. Also of note, for the first time since December of 2015, average hourly earnings took a dip.

African America currently needs 505 000 jobs to match America’s unemployment rate. A decrease of 218 000 jobs from October.