The Bureau of Labor Statistics has issued its THE EMPLOYMENT SITUATION — DECEMBER 2023. The numbers were higher than expected. Unemployment was 3.7%, which is near a 50-year low. The economy added 216,000 jobs. One notable number was that Black unemployment was 5.2%, 40% higher than the overall numbers.
White unemployment was 3.5%. Among adult men, the figure was 3.5%. It was 3.3% for adult women. The figure was 3.1% among Asians and 5.0% among Hispanics. The figure for teenagers was 11.9%. These are the worst cities for Black Americans.
Several factors contribute to the higher jobless rates among black Americans compared to whites. Racism and single-adult households, where one person must balance childcare and full-time employment, are among the primary reasons, according to the Economic Policy Institute.
The American Progressive reports that the disparity between black and white jobless rates dates back to 1972 when the BLS started gathering monthly employment data. Another reason is incarceration. “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.
Experts emphasize that these reasons are interconnected, forming a complex set of challenges that black Americans face when entering the workforce. It is widely agreed upon that these issues cannot be easily resolved.
A study by 24/7 Wall St. further delves into the problem at the city level, revealing cities where Black Americans encounter significant difficulties. “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. These are the worst states for Black Americans.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.