OVERALL UNEMPLOYMENT: 10.2% (11.1%)
AFRICAN AMERICAN: 14.6% (15.4%)
LATINO AMERICAN: 12.9% (14.5%)
EUROPEAN AMERICAN: 9.2% (10.1%)
ASIAN AMERICAN: 12.0% (13.8%)
Previous month in parentheses.
Analysis: All groups saw drops in their unemployment rates, led by Asian America’s 180 basis point decrease. African Americans had the smallest decrease, with unemployment dropping only 80 basis points.
AFRICAN AMERICAN UNEMPLOYMENT RATE BY GENDER & AGE
AFRICAN AMERICAN MEN: 15.2% (16.3%)
AFRICAN AMERICAN WOMEN: 13.5% (14.0%)
AFRICAN AMERICAN TEENAGE: 22.5% (23.2%)
AFRICAN AMERICAN PARTICIPATION BY GENDER & AGE
AFRICAN AMERICAN MEN: 65.6% (65.2%)
AFRICAN AMERICAN WOMEN: 60.2% (60.0%)
AFRICAN AMERICAN TEENAGE: 29.4% (30.4%)
Analysis: All groups saw declines in their unemployment rate, led by African American men who had a 110 basis point decline and women have the smallest decline of the three groups with only a 50 basis point decline. Participation rates for both men and women increased marginally, but African American Teenagers saw a 100 basis point decline.
African American Men-Women Job Gap: African American women currently have 958,000 more jobs than African American men in June. This is a decrease from 1,023,000 in June.
CONCLUSION: The overall economy added 1.763 million jobs in July. African America added 234,000 in July or 13.3 percent of the overall jobs. From Yahoo Finance, “The services sector again led non-farm payroll gains in July, after the services economy was cut deeply by shelter in place orders and business closures earlier on this year. The leisure and hospitality industry added back 592,000 jobs after gaining nearly 2 million in June, and retail trade jobs increased by 258,000 in July after a rise of more than 800,000 during the prior month. Within services, information-related industries were the only group to shed jobs on net in July, losing 15,000. Within the goods-producing sector, mining and logging jobs fell by 7,000. Government jobs rose by 301,000 in July, after an increase of 54,000 in June.”