April Unemployment Rate is 8.2%, but Overall Disappointing
The unemployment rate declined from 8.3% to 8.2% but only ½ as many jobs (120,000) were created in March as in previous months.
The unemployment rate declined from 8.3% to 8.2% but only ½ as many jobs (120,000) were created in March as in previous months.
Black unemployment is 14.1% and Latino unemployment is 10.7%. One way the government can help reduce unemployment among blacks and Latinos is by promoting business development among the groups.
Today’s Labor Department Jobs Report showed that the unemployment rate in February remained constant at 8.3% and 227,000 jobs added to the labor force.
Blacks spend just 6 cents of every dollar with black-owned businesses. By increasing this to12 cents, 1/2 million more black jobs might be created and the unemployment rate might decrease to 10.4%.
The February jobs report is the best since the recovery began; unemployment went down from 8.5% to 8.2%; 257,000 private-sector jobs were added and black unemployment declined from15.8% to 13.6%.
MLK Holiday is a time to reflect on racial progress. Economic growth is picking up but black unemployment has not improved much. It is time for a National Commission on Black Unemployment.
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