Black Unemployment Rate Falls to a Record Low

Over the weekend, the unemployment rate amongst African Americans hit a record low.

On Friday, the Bureau of Labor and Statistics released its August report, which showed that the economy gained 130,000 jobs last month. The report also revealed that black unemployment fell to 5.5%, which is the lowest rate recorded since the Labor Department began tracking the progress back in the 1970s.

As for unemployment among workers who identify themselves as Hispanic or Latino, reports show that ratings fell to a whopping 4.2%. Black and Hispanic or Latino unemployment numbers have traditionally been higher than white unemployment. White unemployment rang in at 3.4%, which is up from the previously reported 3.3%. Nonetheless, this is the smallest gap on record regarding unemployment rates for blacks and whites.

Valerie Wilson, director of the program on race, ethnicity, and the economy for the Economic Policy Institute, attributed these numbers to the prolonged strength of the U.S. labor market. For example, employers have been adding jobs for 107 straight months. Unemployment nationwide is near a 50-year-low.

“As jobs continue to be created, those who were still looking for work, those like minorities with historically higher rates of unemployment, are the ones in a position to take advantage of those opportunities,” she told CNN Business.

Last year, President Donald Trump repeatedly praised himself or the low black unemployment rate, while taking jabs at Democrats. “So if African-American unemployment is now at the lowest number in history, median income the highest, and you then add all of the other things I have done, how do Democrats, who have done NOTHING for African-Americans but TALK, win the Black Vote? And it will only get better!” he tweeted in September 2018.

Also commenting on the situation at hand, Vice President Mike Pence, who stated that America is making a comeback. “Under President @realDonaldTrump’s leadership, America is back at work! Since Election Day, 6.3 million jobs have been created, wages are rising, and America’s workers are winning again!” he tweeted.

 

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