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"Unemployment for Black Americans is at its worst level since the pandemic, with some economists seeing the latest results as a sign of worse things to come for the US economy. The unemployment rate for Black Americans hit 7.5% in August, according to seasonally adjusted data released Friday by the Bureau of Labor Statistics, its highest since October 2021 — more than double the rate seen for white workers. Some possible reasons include federal job cuts and tariff-fueled economic uncertainty.
Meanwhile, the unemployment rate for Black men, at 7.1%, was slightly higher than the 6.7% unemployment rate seen for Black women in August, though Black women have seen bigger employment losses since the first quarter of this year. (Black teens of both sexes, ages 16-19, had an unemployment rate of 24.8%.)
That's not a great thing for the country's economic well-being. “What we find typically is that the unemployment rates that you see for the young, for Blacks — and particularly Black males — are a telltale sign of the direction of the economy and what we can expect to see hit overall in a few months,” said Gary Hoover, an economist at Tulane University."
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I hope this isnt a harbinger of economic decline, except a poor economy might be the only thing that saves us from Trump's Totalitarianism.
Meanwhile, the unemployment rate for Black men, at 7.1%, was slightly higher than the 6.7% unemployment rate seen for Black women in August, though Black women have seen bigger employment losses since the first quarter of this year. (Black teens of both sexes, ages 16-19, had an unemployment rate of 24.8%.)
That's not a great thing for the country's economic well-being. “What we find typically is that the unemployment rates that you see for the young, for Blacks — and particularly Black males — are a telltale sign of the direction of the economy and what we can expect to see hit overall in a few months,” said Gary Hoover, an economist at Tulane University."
Link
I hope this isnt a harbinger of economic decline, except a poor economy might be the only thing that saves us from Trump's Totalitarianism.