Economy

Black Unemployment 58% Higher Than White

SIphotography / Getty Images

The Bureau of Labor Statistics has released its THE EMPLOYMENT SITUATION — FEBRUARY 2023. The unemployment rate nationwide was 3.6%, up from 3.5% the previous month. The economy added 311,000 jobs, which was more than expected. One trend was the same as it has been since the BLS started to release the data. The Black unemployment rate was much higher than that for whites. In February, the number was 58% higher, as the Black unemployment rate was 5.7%.

The jobless rate varied considerably by group. Unemployment among whites was 3.2%. Among adult men, the figure was 3.3%. It was 3.2% among adult women. Among Hispanics, the figure was 5.3%. And it was 3.4% among Asians. The jobless rate for Black Americans was near historic lows, as it has been among all groups measured.

The reasons Black Americans have higher jobless rates than whites fall into several categories. The Economic Policy Institute reports that among the primary reasons are racism and single-adult households where one person tries to care for children and hold a full-time job simultaneously.

The American Progressive reports that the spread between Black and white jobless rates goes back to 1972, when the BLS started to gather monthly employment data. It gives incarceration, the rate of which is higher among Blacks than whites, as another reason. “Mass incarceration plays a significant role in the lower labor force participation rate for African American men.” Educational attainment is another reason. Whites tend to graduate from high school and college at a higher rate than Black people. (These are the lowest-paying college majors.)

None of these reasons can be taken alone, according to many experts. They represent a web of problems Black Americans face as they try to enter the workforce. One thing almost all experts agree on is that these problems will not go away.


A study by 24/7 Wall St. shows the deep problems can be further explained at the city level. Among the worst cities for Black Americans: “Black residents in these metro areas are much less likely to hold a high school diploma or college degree than white residents. Lower levels of high school attainment can drive down wages and make it more difficult to find a job.” Based on all these factors, the gulf between Black unemployment and white is unlikely to change. (These are the 20 worst cities for Black Americans.)

The Easy Way To Retire Early

You can retire early from the lottery, luck, or loving family member who leaves you a fortune.

But for the rest of us, there are dividends. While everyone chases big name dividend kings, they’re missing the real royalty: dividend legends.

It’s a rare class of overlooked income machines that you could buy and hold – forever.

Click here now to see two that could help you retire early, without any luck required.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.