Job seekers attend the JobNewsUSA.com South Florida Job Fair held at the Amerant Bank Arena on June 26, 2024 in Sunrise, Florida.
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The unemployment rate for men in black and Hispanic racial groups fell in September, while it remained little changed for other racial groups, according to data released Friday by the Labor Department.
In September, the black male unemployment rate fell to 5.1% from 5.9% the previous month. The unemployment rate for Hispanic men also fell to 4.1% from 4.8% the previous month.
The overall unemployment rate fell slightly to 4.1% in September, down just 0.1 percentage points from August.
“The black unemployment rate is still 1.5 times that of white workers, but it fell slightly in September to its lowest level since April,” said Bankrate economic analyst Sarah Foster. “Black unemployment is typically about twice that of whites, who are among the first to be laid off. Meanwhile, the unemployment rate for Hispanic workers has fallen to its lowest level since June.”
This is the first drop in unemployment for black workers in five months, Foster added.
Meanwhile, unemployment rates for other ethnic groups remained little changed or declined slightly. Unemployment among Asian workers remained constant at 4.1%. For white workers, it fell to 3.6% from 3.8% in September.
The unemployment rate for women of all racial groups saw slight declines. Both black and Hispanic women saw unemployment fall 0.2% in September to 5.3% and 4.8%, respectively. Unemployment for white women also fell from 3.4% to 3.1%. Unemployment rates for Asian workers broken down by gender were not readily available.
The employment-to-population ratio for prime-age female workers, i.e. those between the ages of 25 and 54, has fallen to its lowest level since May.
“Prime-age labor force participation still remains near historic highs, although it has declined from its recent record high in August,” Foster said.
Last month, the labor force participation rate – the percentage of the population that is either employed or actively looking for work – remained unchanged at 62.7%.
For white workers, the rate rose just 0.1 percentage points to 62.4%, while for Hispanic workers it fell from 67.8% to 67.4%. For Asian workers, participation fell from 65.5% to 65.3% and for Black workers it increased from 62.7% to 62.9%.
—CNBC's Gabriel Cortes contributed to this report.
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