Tag Archives: jobs report

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.

 

Advertisements

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.