The latest U.S. jobs report found that while overall job creation has begun to slow, the unemployment rates for Black workers have shown notable improvement, according to Fast Company. An Overall Decrease In Jobs Employers added 175,000 jobs in April, a deceleration from previous months. Yet, this slowdown comes after an unprecedented streak of low unemployment rates, remaining under 4% for 27 consecutive months—the longest stretch in over half a century. The overall unemployment rate experienced a slight increase to 3.9%, yet this minor increase doesn’t signal a weakening labor market.
Last month, US payrolls soared in and the unemployment rate dropped, however, the opposite was true for Black Americans, especially Black women. Unemployment For Black Women Black unemployment rates have surged reaching a peak not seen since August 2022. As per the latest Labor Department data, the overall unemployment rate for Black Americans climbed to 6.4% in March 2024, up from 5.6% in February. The three-month average unemployment rate for Black people has risen to 5.8%, up from 5.4%. However, the overall shift is mainly seen among Black women, who have experienced employment
A recent analysis by Bloomberg News has revealed that people of color accounted for 94% of new hires at the US’ largest public companies in the year after the Black Lives Matter protests. The proportion of managerial and executive roles held by people of color increased by about two percentage points – more than double the average increases in previous years. However, white people remained overrepresented in the top, highly-paid positions. A major shift The US Equal Employment Opportunity Commission (EEOC) requires companies with 100 or more employees to report
African Americans’ unemployment rate has jumped for a second consecutive month, with 267,000 more unemployed Black Americans since April, reports Bloomberg. This equates to about 90% of the 300,000 increase in overall joblessness during that period. Although the overall employment rate decreased this month to 3.6%, Black unemployment rose for the second straight month in June at 6%, almost double that of white workers. The economy and Black unemployment Historically, research on racial patterns of the labor market status shows that Black workers are often among the first to be fired as the
