August 2, 2013

Black Unemployment Drops to 12.6% in July 2013

The United States added 162,000 jobs in July 2013 - making it 41 consecutive months of private sector job growth - and unemployment rate dropped to 7.4 percent.  You can click here to check out the unemployment rate in your state.

There are about 11.5 million unemployed people in the country - and our nation's unemployment metrics.  There isn't a reason for ticker-tape parade with these numbers ... but, they do show that the economy is continuing to trend in a positive direction.

The numbers in the Black community are bad!

The unemployment rate in the Black community dropped in July 2013 to 12.6%. This compares to previous months:
  • Jun 2013 - 13.7%
  • May 2013 - 13.5%
  • Apr 2013 - 13.2%
  • Mar 2013 - 13.3%
  • Jun 2012 - 14.4%

The unemployment rate for Black teenagers (age 16-19) is horrific - 41.6%. I guess I have more appreciation for my 16-year old daughter being able to find summer employment over the past few months!

The Labor Department said private companies accounted for virtually the entire 162,000 increase in jobs last month. Employment rose in retail trade, food services and drinking places, financial activities, and wholesale trade. The increase in jobs for July 2013 is below the 189,000 average sustained in the previous 12 months.

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

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