The unemployment rate for black workers fell from 6.0% in July to 5.5 % in August, data from the Department of Labor reveals. These numbers surpass the record low set in May 2018 of 5.9% for black unemployment and are partially due to improved jobs numbers for black women. While July numbers revealed unemployment for black women to be at 5.2%, August numbers saw that figure drop to 4.4%.
The unemployment rate for black men increased, conversely, from 5.8% from 5.9%.
130,000 jobs were added in August, about 30,000 fewer jobs than were added in July. Unemployment remained at 3.7 %, consistent with the last three months. The labor force participation rate slightly rose from 63.0% in July to 63.2% in August.
Economists predicted the unemployment rate would remain the same at 3.7%, according to the Wall Street Journal, and that employers would add 150,000 jobs.
The unemployment rate has held steady between 4% and 3.7% for more than a year before the April jobs report showed it drop to 3.6%. Prior to April’s report, the consistent unemployment rate suggested that workers are jumping back into the workforce to fill open jobs, rather than the workers who are currently collecting unemployment welfare, according to WSJ.
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