Jobseeker will speak to recruiters on Friday, September 6, 2024 during the annual Bronx Job Fair & Expo of the New York Public Library in the Bronx Library Center in the Bronx Borough, USA.
Yuki Iwamura | Bloomberg | Getty pictures
Unemployment among black men increased in January, when the number of work increased, according to the data published on Friday by the Ministry of Labor.
In January, black workers recorded their unemployment rate of 6.1% a month before the month before 6.2%. This trend corresponded to the total unemployment rate for the country, which in January fell from 4.1% in December to 4.0%. The Asian Americans were the only other population group that rose from 3.5% to 3.7%.
On the other hand, unemployment for white and Hispanic workers followed the overall trend and fell in January from the previous month. For the former, it decreased from 3.6% to 3.5%. For the latter it fell from 5.1% to 4.8%.
But black men experienced the greatest monthly increase in unemployment, with their unemployment rates rising from 5.6% to 6.9%. On the other hand, the unemployment rate for black women was 5.4%.
While Hispanic men were also stable at 4.0%, unemployment rates for their female colleagues went from 5.3%to 4.5%. The unemployment rate also fell from 3.3% in white men to 3.1% and has slightly returned from 3.4% in white women to 3.3%. The data creation after sex was not easily available for Asian Americans.
While the increase in unemployment rate for black male workers on the surface, the US Bureau of Labor Statistics made some changes to its population controls and survey tools that make it difficult to compare the data with the previous months, so Elise Gould, Senior Economist at the Economic Policy Institute. Gould may also attribute the increase to the volatility of the standard data.
“I think you would have to see a few months of this survey and not just an insight into the data to believe that something scary was going on,” she told CNBC. Nevertheless, “is of course only the simple fact that it is so much higher than other groups, a systemic problem in and of itself.”
Gould added that part of the climb of the unemployment rate for black men could be due to the fact that more of the cohort in January joined the job market.
Last month, the employment participation – the percentage of the population, who are either employed or actively searched for at work – rose from 62.5% higher to 62.6%.
In black workers, the rate rose from 62.4% to 62.5%. The rate rose from 68.2% in black men to 69% and rose slightly from 62.4% in black women to 62.5%.
“If the unemployment rate increases, but there is also an increase in participation, this can often mean that people are more optimistic or return to the job market to look for jobs,” added Gould.
Among white employees rose from 62.2% to 62.3%. Within the Asian worker, the participation rose from 64.3% to 64.7% and rose from 67.5% to 66.8% to 66.8%.
– Gabriel Cortes from CNBC contributed to this report.
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