Black unemployment rate dropped to lowest in 50 years

[Secure Da Bag]

Black Unemployment Tumbled to a 50-Year Low in March

The unemployment rate for Black workers fell to a 50-year low as the employment-to-population ratio for black workers exceeded that for white workers for the first time in at least 20 years.

www.investopedia.com

The unemployment rate for Black workers fell to a 50-year low in March.


March's unemployment rate for Black workers was 5%, a low not seen since 1972, according to data released Friday from the Bureau of Labor Statistics. That number is a long way from the all-time high of 21.2% in January 1983, which occurred in the aftermath of the early 1980s recession.1 Unemployment rates for Black women were even lower at 4.2%.1


This compares to an overall unemployment rate of 3.5% in March and a 3.2% rate for White workers. Historically, the unemployment rate for Black workers has trended above the national average, and typically roughly double that of White workers. Unemployment among Hispanic or Latino workers for the month was 4.6%, while for Asian workers it was 2.8%.

For the first time in at least 20 years, the employment-to-population ratio of Black workers exceeded that of White workers. In March, the share of the Black population who held a job was 60.9%, marginally higher than 60.4% for all workers and 60.2% for white worker

 

[Secure Da Bag]

I wonder if Black wealth has reached the heights it did in the very early 2000s, before the financial crash.

 

[88m3]

I wonder if Black wealth has reached the heights it did in the very early 2000s, before the financial crash.

What does the data say?

 

[mastermind]

I wonder if Black wealth has reached the heights it did in the very early 2000s, before the financial crash.

Highly doubt that

Middle and lower class borrowed more money last year because of price gouging.

 

[OfTheCross]

Economy is booming

 

[Bboystyle]

The Biden effect

 

[NZA]

they are raising rates to eventually reverse all of this

 

[Pressure]

Highly doubt that

Middle and lower class borrowed more money last year because of price gouging.

Doesn't this indicate higher borrowing power?

If used properly it could be an avenue for wealth generation for some blacks.

 

[Mook]

they are raising rates to eventually reverse all of this

They got so much free money and nothing to do with it they had to start finally hiring black people lol.

 

[Json]

they are raising rates to eventually reverse all of this

Yeah I feel like the timing of the crash will just in time for maximum fukkery at the GOP nomination.

OPEC doesn’t even care about pushing higher gas prices now that Biden ain’t bend the knee the way they wanted.

 

[Wild self]

Yeah I feel like the timing of the crash will just in time for maximum fukkery at the GOP nomination.

OPEC doesn’t even care about pushing higher gas prices now that Biden ain’t bend the knee the way they wanted.

The 2022 Midterm elections was the OPEC wanting the GOP to take over both parts of Congress. Since that didn't happen, they are like

But strange enough, if this happened if Trump was re-elected, Trump would scream this info to no end, and TLR would have eaten this messaging all the way up!!

 

[WesCrook]

May have to look closer at the stats

Unemployment and Underemployment are 2 different things.

"Demar" with the Masters Degree has to settle for working as a call center supervisor because there aren't enough openings in his field or tier of expertise.

It's like saying that there is no shortage women at the party....even though most of them look like buffaloes.

 

[mastermind]

Doesn't this indicate higher borrowing power?

If used properly it could be an avenue for wealth generation for some blacks.

People we’re borrowing money (using credit cards) to buy eggs so I don’t think it is that.

 

[Pressure]

People we’re borrowing money (using credit cards) to buy eggs so I don’t think it is that.

I think that goes without saying as its been the case for much of black history in this country.

I was just intrigued seeing how we romanticize periods of black wealth, but the black wealth share has been relatively flat for the past 40 years.

Without large amounts of home ownership, capital gains, or large life insurance policies which account for much of non black wealth, I was merely musing if access to credit is a potential Avenue for growth. Historically speaking we've been denied that as well outside of predatory instances.

I doubt it changed and haven't had the time to look. Thanks for the response.

 

[mastermind]

I think that goes without saying as its been the case for much of black history in this country.

I was just intrigued seeing how we romanticize periods of black wealth, but the black wealth share has been relatively flat for the past 40 years.

Without large amounts of home ownership, capital gains, or large life insurance policies which account for much of non black wealth, I was merely musing if access to credit is a potential Avenue for growth. Historically speaking we've been denied that as well outside of predatory instances.

I doubt it changed and haven't had the time to look. Thanks for the response.

All good.

I agree with what you said about using those means for wealth generation. I am only saying that wasn't what happened last year.

Remember, the original question was is black wealth where it was before 2008. It just isn't and probably won't be for a very long time.

That is why these unemployment rates are good, but what are real wages now versus before? Things like that are better questions.