Tag Archives: jobs

Fastest Growing & Highest Paying Jobs By Bachelors, Masters, & PhD/Professional


Despite the ongoing student loan crisis at the moment, the statistics of jobs that pay well still demand a college degree. Now, where a college degree comes from, what the economy of your geographic region leans on, and a whole host of other factors certainly play a role. Yet, despite all of this, according to the Bureau of Labor Statistics the only jobs with a median pay currently over $75,000 in 2018 and whose projected growth rate is “Much Faster Than Average” are those associated with a minimum of a bachelor’s degree or higher.

Jobs by degree classification are listed in alphabetical order:

BACHELORS

masters

doctoral or professional

In the end, college must be about our own personal growth towards what we believe is best for us. However, many students and families lack the information of the plethora of opportunities and career paths that are available to them. For African Americans this becomes especially true and results in a tendency towards low-paying career paths. A fundamental problem for a community that needs higher-earners desperately. The demand for these jobs is high and pays well. Who is to say one can not major in Art History and still become a veterinarian and build enough wealth that they can retire early and afford to teach art history in their community for free? Or open their own gallery? Building wealth early gives us opportunities later and in that vein, we hope this information provides a bit more for your educational arsenal.

 

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Unemployment Rate By HBCU State – June 2017


STATES WITH RISING UNEMPLOYMENT: 7

STATES WITH DECLINING UNEMPLOYMENT: 12

STATES WITH UNCHANGED UNEMPLOYMENT: 5

LOWEST: ARKANSAS – 3.4%

HIGHEST: DISTRICT OF COLUMBIA – 6.2%

STATE – UNEMPLOYMENT RATE (PREVIOUS)*

ALABAMA –  4.6% (4.9%)

ARKANSAS – 3.4% (3.4%)

CALIFORNIA – 4.7% (4.7%)

DELAWARE – 4.7% (4.7%)

DISTRICT OF COLUMBIA – 6.2% (6.0%)

FLORIDA – 4.1% (4.3%)

GEORGIA – 4.8% (4.9%)

ILLINOIS – 4.7% (4.6%)

KENTUCKY – 5.1% (5.0%)

LOUISIANA – 5.5% (5.7%)

MARYLAND – 4.1% (4.2%)

MASSACHUSETTS – 4.3% (4.2%)

MICHIGAN – 3.8% (4.2%)

MISSISSIPPI – 5.0% (4.9%)

MISSOURI –  3.8% (3.9%)

NEW YORK – 4.5% (4.4%)

NORTH CAROLINA – 4.2% (4.5%)

OHIO – 5.0% (4.9%)

OKLAHOMA – 4.3% (4.3%)

PENNSYLVANIA – 5.0% (5.0%)

SOUTH CAROLINA – 4.0% (4.1%)

TENNESSEE – 3.6% (4.0%)

TEXAS – 4.6% (4.8%)

VIRGINIA – 3.7% (3.8%)

*Previous month in parentheses.

African America’s July Jobs Report – 7.4%


Overall Unemployment: 4.3% (4.4%)

African America Unemployment: 7.4% (7.1%)

Latino America Unemployment: 5.1% (4.8%)

European America Unemployment: 3.8% (3.8%)

Asian America Unemployment: 3.8% (3.6%)

Previous month in parentheses.

Analysis: Overall unemployment dropped 10 basis points. This returns to matches a 16 year low. African and Latino both saw increases of 30 basis points in their unemployment rates, while Asian and European America’s change was negligible.

African American Male Unemployment: 7.0% (6.3%)

African American Female Unemployment: 6.5% (6.8%)

African American Teenage Unemployment: 23.3% (21.1%)

African American Male Participation: 68.0% (67.5%)

African American Female Participation: 62.5% (62.4%)

African American Teenage Participation: 30.4% (30.8%)

Analysis: African American Females remain a stagnant group in both unemployment and participation rate. African American Males saw quite a rise in their unemployment rate, but with a strong recovery in participation rate after two stagnant months. African American Teenagers saw a step back as their participation rate took a slight hit and unemployment rate rose over 200 basis points. For such a volatile group, this was on the light side.

African American Male-Female Job Gap: 989 000 jobs (945 000 jobs)

CONCLUSION: The overall economy added 209 000 jobs in July. This exceeded many economists expectations and marks 82 straight months of job growth. African America saw a job increase came in at 41 000, a fifth straight month of job gains. This was a significant pickup after a paltry June. The country maybe at full employment, but African America is far from it. It is questionable whether or not African America simply has the infrastructure to spur a massive job growth that would put it in line with the rest of the country. Participation rates for Males recovered, but the overall needle continues to be stagnant. African America’s participation rates trails European American by 40 basis points and Asian America by 170 basis points meaning significant economic stimulus is being lost on a monthly basis. A bigger issue is understanding the wage growth within the group. The BLS does not track earnings by race, but the overall sits at 2.5 percent so likely based on other African America economic trends, African America is bringing up the rear there as well compounding the problem.

African America currently needs 615 000 jobs to match America’s unemployment rate. A increase of 7 000 from June.

Unemployment Rate By HBCU State – May 2017


STATES WITH RISING UNEMPLOYMENT: 5

STATES WITH DECLINING UNEMPLOYMENT: 16

STATES WITH UNCHANGED UNEMPLOYMENT: 3

LOWEST: ARKANSAS – 3.4%

HIGHEST: DISTRICT OF COLUMBIA – 6.0%

STATE – UNEMPLOYMENT RATE (PREVIOUS)*

ALABAMA –  4.9% (5.4%)

ARKANSAS – 3.4% (3.5%)

CALIFORNIA – 4.7% (4.8%)

DELAWARE – 4.7% (4.6%)

DISTRICT OF COLUMBIA – 6.0% (5.9%)

FLORIDA – 4.3% (4.5%)

GEORGIA – 4.9% (5.0%)

ILLINOIS – 4.6% (4.7%)

KENTUCKY – 5.0% (5.1%)

LOUISIANA – 5.7% (5.8%)

MARYLAND – 4.2% (4.3%)

MASSACHUSETTS – 4.2% (3.9%)

MICHIGAN – 4.2% (4.7%)

MISSISSIPPI – 4.9% (5.0%)

MISSOURI –  3.9% (3.9%)

NEW YORK – 4.4% (4.3%)

NORTH CAROLINA – 4.5% (4.7%)

OHIO – 4.9% (5.0%)

OKLAHOMA – 4.3% (4.3%)

PENNSYLVANIA – 5.0% (4.9%)

SOUTH CAROLINA – 4.1% (4.3%)

TENNESSEE – 4.0% (4.7%)

TEXAS – 4.8% (5.0%)

VIRGINIA – 3.8% (3.8%)

*Previous month in parentheses.

African America’s June Jobs Report – 7.1%


Overall Unemployment: 4.4% (4.3%)

African America Unemployment: 7.1% (7.5%)

Latino America Unemployment: 4.8% (5.2%)

European America Unemployment: 3.8% (3.7%)

Asian America Unemployment: 3.6% (3.6%)

Previous month in parentheses.

Analysis: Overall unemployment rose 10 basis points. This was a rise from the lowest levels since May 2001. African and Latino America dropped 40 basis points, while Asian and European America were negligible in their change.

African American Male Unemployment: 6.3% (6.5%)

African American Female Unemployment: 6.8% (7.0%)

African American Teenage Unemployment: 21.1% (27.3%)

African American Male Participation: 67.5% (67.5%)

African American Female Participation: 62.4% (62.9%)

African American Teenage Participation: 30.8% (31.3%)

Analysis: All three African American groups saw decreases in their unemployment rate, but it was the Teenage group who led the way with an astounding 620 basis point drop. Participation rates though for women and teenagers both declining, while the men had no change.

African American Male-Female Job Gap: 945 000 jobs (1 038 000 jobs)

CONCLUSION: The overall economy added 222 000 jobs in June. This exceeded many economists expectations. African America saw a job increase came in at 16 000, a fourth straight month of job gains. However, job growth appears to be slowing after two months ago coming in at 100 000 and the month prior being at 46 000. Still this is the highest number of employed that African America has seen overall in sometime. Explaining job growth for the country let alone African America at this point has reached a guessing game for many economists. The participation rates continue to be a concern overall, especially among men who continue to see their number slide and women’s participation rate remains erratic at best.

African America currently needs 608 000 jobs to match America’s unemployment rate. A decrease of 108 000 from May.