Why Rising Black Unemployment Is a Warning Sign for America’s Economy | News Channel 3-12

Why rising Black unemployment is a warning sign for America’s economy | News Channel 3-12

By Auzinea Bacon, CNN (CNN) — August, which is heralded as Black Business Month, should have been a time to celebrate the Black labor force. But last month’s jobs report showed unemployment rates increased for Black workers — and it could point to an economic slump. The unemployment rate for Black workers reached 7.5% in August — its highest level since October 2021 (7.6%) — and followed consecutive increases in June (6.8%) and July (7.2%). A ri…

Surging Black, youth unemployment a key warning sign

Fast-rising unemployment rates for Black and young workers, whom economic downturns typically hit first and hardest, will make it tougher for the Trump administration to shrug off signs of a slowing labor market. The Bureau of Labor Statistics said Friday the unemployment rate for Black workers in August was 7.5%, up from 6.1% a year ago, while the unemployment rate for workers between 16 and 24 was 10.5% — a nearly four-year high. “These are co…

The most troubling feature of the job market is how thinly spread gains are, top economist says — 'this only happens when the economy is in recession'

"Since the beginning of the year, the economy has created a paltry 600k jobs, but without the job growth in these industries, there would be zero job growth."

Unemployment Rate For Black People Is The Highest Since The Pandemic

Black American Unemployment Rate Hits Highest Level Since 2021 as Jobs Data Pattern Points to Recession

The U.S. economy added just 22,000 jobs in August while unemployment rose to 4.3%, marking a dramatic slowdown that has disproportionately impacted Black workers. Black unemployment surged to 7.5%—its highest level since October 2021—serving as what economists describe as a “canary in the coal mine” for broader economic troubles ahead. Disproportionate Impact on Black Workers The unemployment rate for Black Americans now stands at more than doub…

The US Jobs Report Is a Mess

The US job market is stalling out? Job growth slowed to a crawl in August, and the unemployment rate rose to its highest level in nearly four years at 4.3%, indicating the US labor market is growing stagnant, reports CNN. The economy added just 22,000 jobs last month and the unemployment rate rose to 4.3% […] The post The US Jobs Report Is a Mess appeared first on www.independentsentinel.com.