Jobs

Black Unemployment 50% Higher Than White

John Moore / Getty Images News via Getty Images

The Bureau of Labor Statistics has released THE EMPLOYMENT SITUATION — APRIL 2023. The unemployment rate nationwide was 3.4%, unchanged from March. The economy added 253,000 jobs, which was more than expected. One trend was the same as it has been since the BLS started to release the data. The Black unemployment rate was much higher than that for whites. The number was 51% higher than the White, at 3.1% in April, as the Black unemployment rate was 4.7%.

The jobless rate varied considerably by group. Among adult men, the figure was 3.3%. It was 3.1% among adult women. Among Hispanics, the figure was 4.4%. And it was 2.8% among Asians. The jobless rate for Black Americans was near historic lows, as it has been among all groups measured.

The reasons Black Americans have higher jobless rates than Whites fall into several categories. The Economic Policy Institute reports that among the primary reasons are racism and single-adult households where one person tries to care for children and hold a full-time job simultaneously.

The American Progressive reports that the spread between Black and White jobless rates dates back to 1972 when the BLS started gathering monthly employment data. As another reason, it gives incarceration, the rate higher among Blacks than Whites. “Mass incarceration plays a significant role in the lower labor force participation rate for African American men.” Educational attainment is another reason. Whites tend to graduate from high school and college at a higher rate than Black people.

None of these reasons can be taken alone, according to many experts. They represent a web of problems Black Americans face as they try to enter the workforce. One thing almost all experts agree on is that these problems will not go away.

A study by 24/7 Wall St. shows the deep problems can be further explained at the city level. Among the worst cities for Black Americans: “Black residents in these metro areas are much less likely to hold a high school diploma or college degree than white residents. Lower levels of high school attainment can drive down wages and make it more difficult to find a job.” Based on all these factors, the gulf between Black unemployment and white is unlikely to change.

See also: the worst states for Black Americans

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.