Unemployment Isn’t Falling for Black and Hispanic Workers in the Biden Economy

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  • Black and Hispanic unemployment dropped to 8.2% and 6.6% respectively, but the figures are high compared with the jobless rate for whites and Asians.
  • Joblessness for whites was the lowest at 4.8%. For Asians, the unemployment rate declined to 5.3%.

The unemployment fell to 5.4% as the economy added 943,000 jobs in July, with strong gains across demographic groups despite persistent inequalities in the labor market.

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Black and Hispanic unemployment dropped to 8.2% and 6.6% respectively, but the figures are high compared with the jobless rate for whites and Asians. Joblessness for whites was the lowest at 4.8% and for Asians, it declined to 5.3%.

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Those figures represent a broad improvement over June, when the overall unemployment rate was 5.9%. Broken down by group, it was 9.2% for Black people, 7.4% for Hispanic workers, 5.8% for Asians and 5.2% for whites.

www.cnbc.com/2021/08/06/unemployment-rate-falls-but-is-higher-for-black-and-hispanic-workers.html

 

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