Tag Archives: unemployment by race

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.

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African America’s May Jobs Report – 7.5%


Overall Unemployment: 4.3% (4.4%)

African America Unemployment: 7.5% (7.9%)

Latino America Unemployment: 5.2% (5.2%)

European America Unemployment: 3.7% (3.8%)

Asian America Unemployment: 3.6% (3.2%)

Previous month in parentheses.

Analysis: Overall unemployment dropped by 10 basis points to a 16 year low. African America dropped by 40 basis points, the largest drop among all groups. Asian America saw a 40 basis point increase, but remains lowest among all groups. European and Latino America had negligible change.

African American Male Unemployment: 6.5% (7.3%)

African American Female Unemployment: 7.0% (6.9%)

African American Teenage Unemployment: 27.3% (29.3%)

African American Male Participation: 67.5% (68.3%)

African American Female Participation: 62.9% (62.7%)

African American Teenage Participation: 31.3% (30.8%)

Analysis: African American Males had a 80 basis point drop in their unemployment and participation rate. This after three months straight of participation rate growth. African American Females had a slight uptick in unemployment and participation rates. Their participation rate has been virtually unchanged for the past five months. African American Teenagers had a 200 basis point decrease in unemployment rate and 30 basis point increase in their participation as they post a five month high in jobs.

African American Male-Female Job Gap: 1 038 000 jobs (974 000 jobs)

CONCLUSION: The overall economy added 138 000 jobs in May. This is versus an expected 185 000 by surveyed economists. African America saw an increase of 46 000 jobs, but quite a pullback after over 100 000 jobs in April. Despite strong numbers, many can not help but feel apprehensive about the economy’s sluggishness. An expected rate hike in June is still on the table, but it is less certain after two months straight of missed expectations. African America continues to push forward under the Trump administration with its highest employed numbers seeing an increase every month thus far. We know the economy is overdue for a recession, but it is by no means overheated leaving most economist in unfamiliar territory of just what happens going forward.

African America currently needs 717 000 jobs to match America’s unemployment rate. A increase of 4 000 from April.

 

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.

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 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.