Part 2: The demographics of the unemployed for June 5th:

posted by Brian Mudd - 

Part 2: The demographics of the unemployed for June 5th:   

Bottom Line: The demos of the unemployed tell a much more instructive story about what's really going on in our labor market. As I do monthly, here are the government reported unemployment rates and my adjusted rate based on demographics:   

  • Asians: 3.6% (up.4%)  
  • White: 3.7% (down .1%)  
  • Hispanic: 5.2% (flat)  
  • Black: 7.5% (down .4%)  

Here are the adjusted rates:     

  • Asians: 7%  
  • White: 7.2%   
  • Hispanic: 10.1%   
  • Black: 14.6%   

Demographically, the news was mixed but the end result was positive given where the needs are biggest. The unemployment rate rose among Asians but dropped most significantly among black adults which is where we need the most improvement. That being said we see how important it is to get beyond the headline numbers because the disparity between Asian and black adults is still more than double. Hopefully the progress among black adults is a precursor to a positive trend for job growth where we need it most in the country.

In the third part of today's story we'll explore how much money we're making...

Brian Mudd

Brian Mudd

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