March 9, 2012

Black Unemployment Rate Spikes to 14.1% in February 2012

The United States added 227,000 jobs in February 2012 - making it 24 consecutive months of private sector job growth - and unemployment rate remained at 8.3 percent. Job growth was widespread last month in the private sector, with large employment gains in professional and business services, health care and social assistance, leisure and hospitality, manufacturing, and mining. according to the Bureau of Labor Statistics.

There are about 12.8 million unemployed people in the country - essentially unchanged from last month. Our nation's unemployment is near its lowest rate in almost three years. The trend of positive employment news continues to grow under the leadership of President Obama.

The news was not positive for the Black community.

The unemployment rate in the Black community grew in February 2012 to 14.1%. This compares to previous months:
The overall message for the US economy is good. This is the eighth straight month with over 100,000 people entering the workforce. However, we are sad to report that the rate of unemployment in the Black community remains disproportionately high. That is why this blog is very happy to see proactive efforts to increase awareness of the power of Black Dollars. We have to look to ourselves to fix this problem!

What is your opinion of the unemployment data that was released today?

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