Analysis: European Americans’ unemployment rate has remained steady for four straight months with virtually no change in unemployment rate. Asian Americans increased 60 basis points and Latino Americans decreased 10 basis points from April, respectively. African America’s unemployment rate decreased by 30 basis points from April. Unemployment rates across all groups seem to be leveling off despite
AFRICAN AMERICAN EMPLOYMENT REVIEW
AFRICAN AMERICAN MEN:
Unemployment Rate – 5.2%
Participation Rate – 68.5%
Employed – 9,869,000
Unemployed – 540,000
African American Men (AAM) saw a decrease in their unemployment rate by 40 basis points in May. The group had a noticeable decrease in their participation rate in May by 70 basis points. African American Men lost 48,000 jobs in May and saw their number of unemployed drop by 47,000.
AFRICAN AMERICAN WOMEN:
Unemployment Rate – 6.2%
Participation Rate – 61.7%
Employed – 10,332,000
Unemployed – 684,000
African American Women saw an increase in their unemployment rate by 10 basis points in May. The group increased their participation rate in May by 50 basis points. African American Women added 72,000 jobs in May and saw their number of unemployed increase by 21,000.
AFRICAN AMERICAN TEENAGERS:
Unemployment Rate – 14.4%
Participation Rate – 27.9%
Employed – 641,000
Unemployed – 108,000
African American Teenagers unemployment rate decreased by 520 basis points. The group saw their participation rate decreased by 40 basis points in May. African American Teenagers added 31,000 jobs in May and saw their number of unemployed also decrease 41,000.
African American Men-Women Job Gap: African American Women currently have 463,000 more jobs than African American Men in May. This is an increase from 344,000 in April.
CONCLUSION: The overall economy added 139,000 jobs in May while African America added 56,000 jobs. From CNBC, “Nearly half the job growth came from health care, which added 62,000, even higher than its average gain of 44,000 over the past year. Leisure and hospitality contributed 48,000 while social assistance added 16,000. On the downside, government lost 22,000 jobs as efforts to cull the federal workforce by President Donald Trump and the Elon Musk-led Department of Government Efficiency began to show an impact.”
Tracking Black Economic Stakes in America’s Economic Indicators and Central Bank Signals
Monday, May 26 – Memorial Day
No scheduled economic events While markets rest, Black workers—especially in essential sectors—continue to labor under wage suppression. National holidays often illuminate persistent labor disparities where African Americans overrepresent in underpaid, underprotected service roles.
Tuesday, May 27
Minneapolis Fed President Neel Kashkari Speech (Tokyo, 4:00 AM & 8:00 PM ET)
Known for his dovish leanings, Kashkari may highlight global risks to U.S. growth. For African Americans, particularly those vulnerable to job cuts in an economic slowdown, his tone on future rate cuts is critical.
Durable-Goods Orders (Apr): -7.8% (Prev: +9.2%)
A sharp plunge signals weakening investment and manufacturing demand. This contraction could hit Black industrial workers and logistics employees, especially those in Southern and Midwestern states.
Durable-Goods Minus Transportation (Apr): Data Pending
A flat reading here would confirm broad weakness beyond aerospace and autos, hurting smaller suppliers and minority-owned industrial businesses.
Case-Shiller Home Price Index (Mar): Data Pending (Prev: +4.5%)
Rising home prices continue to push African Americans out of first-time homeownership, especially in major urban markets like Atlanta, D.C., and Charlotte, where HBCU alumni are concentrated.
Consumer Confidence (May): 86.0 (No Change)
Flat confidence underscores persistent economic anxiety. For Black households carrying higher debt loads and experiencing lower wealth levels, stagnation in sentiment suggests limited consumption growth and continued vulnerability.
Wednesday, May 28
Minneapolis Fed President Neel Kashkari Speech (Tokyo, 4:00 AM ET)
Expect continued remarks on global financial coordination. The impact of any global tightening or deflation trends could ripple into U.S. credit markets, disproportionately hurting communities already locked out of affordable loans.
FOMC Meeting Minutes (2:00 PM ET)
This will reveal how serious the Fed is about easing policy. Delay in rate cuts prolongs high borrowing costs, keeping homeownership and business investment out of reach for many African Americans and HBCUs.
Minimal movement masks deeper problems; Black unemployment remains higher than national averages, and layoffs still skew toward underrepresented groups in precarious industries.
GDP (Q1 First Revision): -0.3%
A contracting economy, even marginally, means slower hiring and investment. For African American workers and business owners already operating with less margin for error, the pressure will rise.
Richmond Fed President Tom Barkin Speech (8:30 AM ET)
Representing a region with many HBCUs and Black rural towns, Barkin’s remarks could preview whether the Fed sees these communities as economic priorities or statistical footnotes.
Pending Home Sales (Apr): -0.4% (Prev: +6.1%)
Slumping pending sales point to ongoing housing market stress. This especially harms African American families trying to transition from renters to owners amid high mortgage rates.
Chicago Fed President Austan Goolsbee Speech (10:40 AM ET)
Goolsbee’s economic pragmatism could bring a dose of realism on inequality. If he signals concern over underperformance in low-income markets, that could hint at future support for inclusive growth.
Fed Governor Adriana Kugler Speech (2:00 PM ET)
Kugler may touch on labor market disparities and wage equity. Her background in labor economics makes her one of the more likely Fed voices to mention economic stratification directly.
San Francisco Fed President Mary Daly Speech (4:00 PM ET)
Daly often discusses inclusion and systemic barriers—her speech could reinforce the need for policy tools that close gaps in employment, housing, and education for Black communities.
Dallas Fed President Lorie Logan Speech (8:25 PM ET)
Logan oversees a region with growing Black populations in cities like Dallas and Houston. Her take on regional growth and monetary policy could influence credit access and labor demand in these hubs.
Friday, May 30
Personal Income (Apr): +0.3% (Prev: +0.5%)
Income growth slowing means wage pressures are easing—a problem for African American households already earning less and struggling with rising living costs.
Consumer Spending (Apr): +0.2% (Prev: +0.7%)
Weaker spending growth reflects household caution. Black consumers, often with fewer financial safety nets, are pulling back out of necessity—not choice.
Inflation is slowing but still above target. High price persistence in areas like housing and food continues to affect African American families, who spend a larger share of income on essentials.
Advanced U.S. Trade Balance (Apr): Data Pending (Prev: -$163.2B)
A massive trade deficit signals continued reliance on imports. U.S.-based Black manufacturers and exporters remain sidelined by structural inequalities in scale, capital, and global market access.
Advanced Retail Inventories (Apr): Data Pending (Prev: -0.1%)
Inventory declines suggest caution among retailers, which could mean reduced orders for minority-owned suppliers and less hiring in warehouse/logistics sectors with strong Black labor representation.
Advanced Wholesale Inventories (Apr): Data Pending (Prev: +0.4%)
If inventories keep rising, distributors may slow purchasing cycles, tightening cash flow for small suppliers—particularly those without banking relationships or supplier diversity contracts.
Chicago Business Barometer (PMI, May): 45.5 (Prev: 44.6)
A sub-50 reading indicates contraction. For African American professionals and businesses in Midwest metro markets, sluggish growth can stall economic progress and widen existing gaps.
Consumer Sentiment (Final, May): 50.8
Still hovering at recessionary levels, sentiment continues to reflect fear. Among Black households facing persistent inflation and limited safety nets, pessimism may trigger more cautious economic behavior.
San Francisco Fed President Mary Daly Speech (4:45 PM ET)
Her final remarks of the week may reinforce the theme of inclusive recovery—or warn of economic divergence. Either way, Daly remains a Fed leader worth watching for HBCU communities and Black policymakers.
HBCU Money Insight: This week’s economic data confirms what many in Black America already feel—stagnant wages, expensive goods, and unaffordable homes. Despite easing inflation, the lack of meaningful policy response to racial economic disparities remains glaring. As Fed voices speak from Tokyo to Texas, the African American economy remains in the shadows of the headlines.
Centering the Black Economic Lens on Federal Reserve Movements and Economic Indicators
Monday, May 19
New York Fed President John Williams Speech (8:45 AM ET)
Williams’ comments on inflation and growth will be closely watched. As a key voice in rate-setting, any hawkish signals could delay relief for African American borrowers already paying higher credit premiums.
Fed Vice Chair Philip Jefferson Speech (8:45 AM ET)
Jefferson, the Fed’s first African American Vice Chair, may emphasize equitable employment and inclusive policy. His framing will matter for HBCUs and Black communities relying on federal support and labor stability.
U.S. Leading Economic Indicators (Apr): -0.9% (Prev: -0.7%)
A steeper decline signals weakening momentum. This typically translates into fewer job openings, reduced wage growth, and tighter lending—especially damaging for African American workers and businesses still lagging in recovery.
Tuesday, May 20
Richmond Fed President Tom Barkin Speech (9:00 AM ET)
Barkin’s region includes southern states with high African American populations. His insights could indicate whether regional policy and economic support are filtering down to underserved communities.
Boston Fed President Susan Collins at Fed Listens (9:30 AM ET)
One of the few women of color leading a Fed bank, Collins’ presence at Fed Listens may bring attention to community feedback. Expect mentions of wealth inequality, which remains sharpest for Black Americans.
St. Louis Fed President Alberto Musalem Speech (1:00 PM ET)
As a new voice in the Fed, Musalem’s outlook could influence policy leanings that shape access to capital—particularly relevant in Missouri and the Mississippi Delta region, home to several HBCUs and Black rural communities.
Fed Governor Adriana Kugler Speech (5:00 PM ET)
Kugler’s focus on inclusive employment metrics may touch on disparities in Black unemployment and wage stagnation, helping guide equitable macroeconomic planning.
Wednesday, May 21
Fed Listens Event: Barkin & Bowman (12:15 PM ET)
These sessions are critical opportunities to elevate Black institutional voices—including HBCUs, Black banks, and civil society groups. The listening format also reflects whether the Fed is serious about closing racial wealth gaps through policy.
Little movement here masks a troubling truth: Black unemployment remains higher than national averages, and layoffs in service sectors often disproportionately affect African American workers.
S&P Flash U.S. Services PMI (May): 50.8 (Same as Forecast)
Marginal growth in services is a mixed bag. Black-owned service businesses may benefit from stable demand, but credit costs and supply chain inflation continue to eat into profits.
S&P Flash U.S. Manufacturing PMI (May): 49.8 (Below Forecast)
Contracting manufacturing output threatens industrial jobs—especially for African Americans in urban centers with historic manufacturing legacies and ongoing economic vulnerability.
Existing Home Sales (Apr): 4.12M (Prev: 4.02M)
An uptick in sales signals improved market activity, but high interest rates still lock out many African Americans from homeownership, exacerbating wealth inequality.
New York Fed President John Williams Speech (2:00 PM ET)
Williams’ second appearance may reinforce key monetary themes. If inflation remains the top concern, interest rates are unlikely to fall—delaying housing and business growth in communities that need it most.
Friday, May 23
Kansas City Fed President Jeff Schmid Speech (9:35 AM ET)
The Kansas City district includes Black communities in the Midwest. A pro-growth message from Schmid could be welcomed news for those hit hardest by disinvestment and population loss.
New Home Sales (Apr): 700,000 (Forecast: 724,000)
Falling slightly short of expectations, new home sales remain sensitive to mortgage rates. Limited access to credit and developer capital continues to stall Black homeownership and real estate entrepreneurship.
Fed Governor Lisa Cook Speech (12:00 PM ET)
The only African American woman on the Fed Board, Cook consistently advocates for equitable economics. Her remarks will likely address systemic financial exclusion and how monetary tools can close racial wealth gaps.
Though ceremonial, Powell’s remarks will be widely covered. If he speaks to opportunity and equity, HBCUs and Black institutions can press for tangible follow-through in monetary policy and research funding.
HBCU Money Insight: This week offers a mix of sobering and symbolic moments. With inflation slowing but economic indicators weakening, the question remains whether the Fed can pivot without sidelining Black workers, entrepreneurs, and institutions. For HBCUs and Black policymakers, these events are an opportunity to press for policy that doesn’t just stabilize the economy—but transforms who it works for.
Analysis: European Americans unemployment rate rises slightly to 3.8 percent. Asian Americans decreased 50 basis points and Latino Americans increased 10 basis points from March, respectively. African America’s unemployment rate increased for the third straight month with a 10 basis points from March. African, European, and Latino Americans unemployment rates are at their highest over the past five months.
AFRICAN AMERICAN EMPLOYMENT REVIEW
AFRICAN AMERICAN MEN:
Unemployment Rate – 5.6%
Participation Rate – 69.2%
Employed – 9,918,000
Unemployed – 586,000
African American Men (AAM) saw a decrease in their unemployment rate by 50 basis points in April. The group had a negligible decrease in their participation rate in April by 10 basis points. African American Men added 48,000 jobs in April and saw their unemployed drop by 55,000.
AFRICAN AMERICAN WOMEN:
Unemployment Rate – 6.1%
Participation Rate – 61.2%
Employed – 10,262,000
Unemployed – 663,000
African American Women saw an increase by 100 basis points in April. The group increased their participation rate in April by 30 basis points. African American Women saw lost 38,000 jobs in April and saw their unmployed increase by 106,000. The number of African American Women employed is at a five month low and number of unemployed at a five month high.
AFRICAN AMERICAN TEENAGERS:
Unemployment Rate – 19.6%
Participation Rate – 28.3%
Employed – 610,000
Unemployed – 149,000
African American Teenagers unemployment rate decreased by 120 basis points. The group saw their participation rate decreased by 260 basis points in April. African American Teenagers saw their lost 45,000 jobs in April and saw their number of unemployed also decrease 23,000.
African American Men-Women Job Gap: African American Women currently have 344,000 more jobs than African American Men in April. This is a decrease from 430,000 in March. For the second straight month, this is the lowest ever reported gap by HBCU Money since we began tracking the data.
CONCLUSION: The overall economy added 177,000 jobs in April while African America lost 36,000 jobs. African American Women have shedded 304,000 jobs since February dropping their employed to the lowest number in the past five months for the second straight month. From New York Times, “U.S. employers added 177,000 jobs in April, the Labor Department reported on Friday. The unemployment rate was unchanged at 4.2 percent. Both numbers, which demonstrate that the U.S. labor market remains in good condition, are based on surveys taken in the immediate wake of the Trump administration’s move in early April to institute the highest level of tariffs on imports since the 1930s. The gain extended the streak of U.S. job growth to 52 months.”
Analysis: European Americans unemployment rate slips lower to 3.7 percent. Asian Americans increased 30 basis points and Latino Americans decreased 10 basis points from February, respectively. African Americans unemployment rate increased 20 basis points from February.
AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE
AFRICAN AMERICAN MEN: 6.1%
AFRICAN AMERICAN WOMEN: 5.1%
AFRICAN AMERICAN TEENAGERS: 20.8%
AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE
AFRICAN AMERICAN MEN: 69.3%
AFRICAN AMERICAN WOMEN: 60.9%
AFRICAN AMERICAN TEENAGERS: 30.9%
Analysis: African American Men saw a increase in their unemployment rate by 60 basis points and African American Women after three months of unchanged unemployment rate saw a increase by 30 basis points in March, respectively. African American Men increased their participation rate in March by 100 basis points, their five month high. African American Women decreased their participation rate in March by 180 basis points, their lowest participation rate in the past five months. African American Teenagers unemployment rate increased by 160 basis points. African American Teenagers saw their participation rate increase by 30 basis points in March, their highest participation rate in the past five months for the second straight month.
African American Men-Women Job Gap: African American Women currently have 430,000 more jobs than African American Men in March. This is a decrease from 793,000 in February. This is the lowest ever reported gap by HBCU Money since we began tracking the data.
CONCLUSION: The overall economy added 228,000 jobs in March while African America lost 176,000 jobs. This was led by African American Women losing 266,000 jobs in March dropping their employed to the lowest number in the past five months. From Reuters, “The U.S. economy added far more jobs than expected in March, but President Donald Trump’s sweeping import tariffs could undermine the labor market’s resilience in the months ahead amid sagging business confidence and a stock market selloff.”
HBCU Money 
This Week in the Economy: May 19–23, 2025
Centering the Black Economic Lens on Federal Reserve Movements and Economic Indicators
Monday, May 19
Tuesday, May 20
Wednesday, May 21
Thursday, May 22
Friday, May 23
Sunday, May 25
HBCU Money Insight:
This week offers a mix of sobering and symbolic moments. With inflation slowing but economic indicators weakening, the question remains whether the Fed can pivot without sidelining Black workers, entrepreneurs, and institutions. For HBCUs and Black policymakers, these events are an opportunity to press for policy that doesn’t just stabilize the economy—but transforms who it works for.
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Posted in Economics
Tagged African American Homeownership Trends, Black Economic Policy 2025, Black Small Business Economic Outlook, Black Unemployment Statistics, economy, Fed Interest Rates Impact on Black Communities, federal reserve, Federal Reserve and Black Wealth, finance, HBCU Financial Commentary, Inclusive Economic Growth Fed Listens, inflation, interest rates, Lisa Cook Federal Reserve Speech, Philip Jefferson Economic Equity