Black Unemployment At An All Time High – Amid COVID & Recession

Opinion | Black Unemployment Matters Just as Much as White Unemployment -  The New York Times

Since the pandemic, Black and Hispanic Americans have experienced the worst. Unemployment rates are nearly double the rate of white workers and are higher than the 4% national average. Many are struggling to make their rent or mortgage payments. While unemployment rates have decreased overall, Black unemployment rates continue to exceed the national average. This trend should not be ignored. We must work to combat the black unemployment rate.

Black unemployment is typically about double that of white workers.

In addition, the inequities experienced by black workers have a far more significant impact on the economic vulnerability of their households. A job loss can mean the loss of the household’s entire income. This is particularly true for African American workers, who are more likely than their white counterparts to live in homes with more than one earner. This sometimes forces single parents and young people to seek another ways to make money, sometimes even recurring to alternative work pathways such as prostitution and porn. This makes black unemployment about twice as high as that of white workers.

After the Great Recession, the Black unemployment rate was about double that of the white rate. This gap had persisted since the 1950s when the black unemployment rate began rising. The rate of unemployment for Blacks started growing in March and skyrocketed in April. In addition, black unemployment rose faster than white workers in the first few months of the Trump administration. Despite this disparity, the unemployment rate for black workers remains high, despite President Biden’s claims that the economy is improving. As a society we largely enjoy black contributions towards culture and economic growth so the topic should not remain amiss.

While the unemployment rate for all workers is still low, some factors explain why black workers are experiencing the highest rates—first, geography. Many states have made it harder to access unemployment benefits for white workers. In the 1950s, 50% of jobless Black people could access unemployment benefits, but that number is far lower now. This gap is even more prominent in the South, where the Black population is higher.

Many factors contribute to the persistent black-white gap in unemployment.

For example, black workers are likelier to be single earners than white workers. Half of the black households have only one earner, whereas nearly 50% of white households have two or more earners. This is one of the consequences of the persistent 2-to-1 unemployment gap in the United States. The disparity between black and white unemployment rates can be considered a negative factor in our country’s overall economic health.

The joblessness rates of both races were up after the pandemic. Still, black unemployment is about twice as high as white workers after the pandemic. In April, the black unemployment rate spiked compared to white workers, and this difference is still significant. The proportion of unemployed African American workers is nearly double that of white workers after pandemic inflation. If this trend continues, we should expect more job losses in both races.

In addition, black workers still face significant pay penalties and wage gaps in the labor market. On average, black men earn 71 cents for every dollar that a white worker makes. An individual’s ability does not cause this disparity. Instead, it functions on several social, political, and institutional factors. These factors make it impossible for black workers to improve their situation by furthering their education.

August's jobs report shows higher unemployment for Black workers, just as  jobless benefits and eviction protections end

Black unemployment is typically about double that of Hispanic workers.

Although the overall unemployment rate was 3.7% last year, the black unemployment rate rose to 6.1%. This rate was significantly higher than the non-Hispanic white unemployment rate of 3.0%. Differences in educational attainment could not explain this difference. The authors suggest that the pandemic is having a disproportionate impact on black workers. They also say that black workers are more likely to contract COVID-19.

Another difference between white and black unemployment is the number of households with multiple income earners. Black families were more likely to have only one income earner, while nearly half of white households had two or more income earners. This disparity is not a function of the number of working-age individuals in a home. Instead, it is an additional consequence of the persistent 2-to-1 gap between black and white unemployment rates.

Recent studies have shown that the recession disproportionately affects black and Hispanic workers. According to the Post-Ipsos survey, black workers were twice as likely as Hispanics to lose their work. Despite the disparity in layoff rates, black and Hispanic workers were the most likely to be impacted by the economic downturn. Moreover, the black population has fewer earning members than whites. This means they are less likely to receive benefits from the government or access to job-search websites.

Another factor contributing to the increase in black and Hispanic unemployment rates is women’s low participation level. Compared to white workers, black and Hispanic women are twice as likely to be unemployed. In addition, black women have an EMRATIO XNX of nearly eight percent, while Hispanic women are half that at seven percent. These factors combined to create the current underemployment rate of about double that of white women.

Black women’s long-term unemployment rates have risen over the past two years.

Black women’s long-term unemployment rate rose by 4.5 percent between Q4 2020 and Q1 2022, the highest level among all working Georgians. This rate was even higher than the non-Hispanic unemployment rate of about five percent. However, these results do not explain why Black unemployment is still higher than Hispanic workers.

These inequities affect the economic vulnerability of black workers. The entire household can suffer when a worker loses their job. In addition, black families are less likely to have a second earner. This creates an even more disproportionate economic vulnerability. This means that losing a job can mean complete financial devastation. A single black worker is not likely to be able to support two children.

Black and Hispanic workers change their jobs more often than white workers and Asians, with the latter experiencing higher rates than the former. Younger and less educated workers have higher rates of unemployment than others. But their rates are essentially unchanged in the past six months. There is still plenty of room for improvement. The unemployment rate is still high and will remain until the economy recovers.

Black unemployment is higher than the overall 4% rate.

Recent statistics have shown that the number of unemployed Black Americans is significantly higher than the overall rate. This disparity has persisted despite the recovery in the economy. While the unemployment rate for whites continues to fall, the unemployment rate for blacks has jumped to more than twice the overall rate. Black unemployment is now higher than the overall rate of inflation. Those numbers should come as a surprise to those who are unemployed.

While the federal government has given the Fed two explicit goals: to achieve full employment and keep prices stable – these goals are often vague. Fed officials have long said they use a variety of metrics. Still, they rarely mention black unemployment rates when making important policy decisions. The 4% rate for whites is not even close to the speed of black unemployment in 2013, which was almost 13 percent in 2013.

The black unemployment rate is also more volatile than the white unemployment rate. It fluctuates about 1.7 percentage points for each one-point change in the national rate, whereas the white unemployment rate varies by about 0.91%. As a result, African American employment is especially at stake for macroeconomic stabilization. During downturns, African American families are the ones who suffer the most. On the other hand, during recoveries, African American families benefit disproportionately.

Black unemployment rate dips, labor force participation rises in January

Although black unemployment is higher than the overall 4% rate of inflation, it is still considerably lower than the white rate.

First, however, let’s put the disparity in context. The last time that black unemployment was less than 8 percent was in 2000. This was the first time since 1972 that black unemployment was less than six percent for African American workers of prime age. Since then, the rate has been below six percent in three of the last five years, two of which occurred during the recovery.

The African American middle class grew more during economic recovery than the white working class. From 1995 to 2000, the share of African American households in the median sixty percent of the income distribution rose by three percentage points. At the same time, the share of African American households in the upper 60 percent of the income distribution declined. These positive developments occurred without the inflationary spiral that so often accompanies high unemployment rates. These findings indicate that policymakers need to be willing to experiment with low unemployment rates.

While the unemployment rate fell by 0.4 percentage points in December, Black unemployment increased to 7.1% from 6.5%. However, white women, the “perfect giorls” aged twenty-and-older experienced a decline in their unemployment rate to 3.1%. However, the unemployment rate for Black men and women was lower than the overall 4% inflation rate in December. A highlight of this particularly pronounced disparity is in the D.C. labor market, which is overwhelmingly federal white-collar employment.