Economy
Unemployment Rate Among Black Americans At 7.7%
Published:
Last Updated:
While the economy has added millions of jobs over the last year, and in January added 227,000 which drove an unemployment rate of 4.8%, the rate among Black Americans remained high at 7.7%
The unemployment rate among White Americans is lower than the national rate, and was 4.3% last month. Among Asian Americans, it was 4.7%.
Total nonfarm payroll employment increased by 227,000 in January, and the unemployment rate was little changed at 4.8 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in retail trade, construction, and financial activities.
More specifically,
Among the major worker groups, the unemployment rate for Asians (3.7 percent) increased in January. The jobless rates for adult men (4.4 percent), adult women (4.4 percent), teenagers (15.0 percent), Whites (4.3 percent), Blacks (7.7 percent), and Hispanics (5.9 percent) showed little or no change over the month.
According to the Economic Policy Institute, the trend is long lived:
The black unemployment rate is nearly or more than twice the white unemployment rate regardless of educational attainment. It is, and always has been, about twice the white unemployment rate; however, the depth of this racial inequality in the labor market rarely makes the headlines.
That would indicate to some extent that no one has come up with a solution
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
