Black unemployment rate hits a record low

[Boiler 45,692]

http://money.cnn.com/2018/06/01/news/economy/black-unemployment-rate-record-low/index.html

 

The black unemployment rate fell to 5.9% in May — the lowest since the government started keeping track in 1972.

It's a notoriously volatile number, but the trend is clear: This economy is strong, and everyone is reaping the rewards.

"The jobs market is firing on all pistons. It is benefiting all workers," said Tony Bedikian, head of global markets at Citizens Bank. "There are more jobs to be had for all Americans."

As the overall unemployment rate continues to fall — the lowest since 2000 — it's also shrinking the gap between black and white unemployment. It is the narrowest on record.

Black unemployment dropped sharply last month, down from 6.6% in April. The gap between black and white unemployment shrank to 2.4 percentage points, the first time on record it's been less than 3 points.

The figures were part of a jobs report Friday that showed overall unemployment at 3.8%. That was a clear sign that the economy is strong — and that there are opportunities for just about everyone.

Unemployment for black Americans remains stubbornly higher than for white, Asian and Hispanic Americans. The unemployment rate is just 2.1% for Asian-Americans and 4.9% for people of Hispanic or Latino ethnicity.

Jobs data for black Americans also tends to be statistically more volatile than for white Americans because of a smaller population size. Still, the unemployment trends for black Americans are undeniably improving.

[Voice of Reason 10,298]

It all sounds good, and I like good news.  But when it comes to crashes, nothing makes them worse than crashing from higher up...

[jg121783 3,918]

Trump has accomplished for African Americans what the left has been falsely promising them for decades just to get their votes. The left is beside themselves trying to figure out what to do about this so they don't lose a large amount of their base.

[CTgal18 157]

1 hour ago, jg121783 said:

Trump has accomplished for African Americans what the left has been falsely promising them for decades just to get their votes. The left is beside themselves trying to figure out what to do about this so they don't lose a large amount of their base.

Except that number has been on a steady decline since 2010 and Trump only took office in January of 2017. The article even says as much:

 

“Saying that black unemployment is this low “because of my policies” may seem a bit much, given the rate has simply kept falling at about the same rate that it had for the six years before Trump was elected.””

 

All this proves is he hasn’t done anything to screw up an already existing trend, not that he’s caused it...

 

(sorry if the font is big, I’m not sure how that happened or how to fix it)

 

Edited June 2, 2018 by CTgal18

[Neonred 3,576]

Thank you Obama.  And thank you Obama for the sudden and rapid improvement in the economy and stock market.  And thank you Obama for the tax break.  And thank you Obama for improving relations with NOKO.  And...

[jg121783 3,918]

3 hours ago, CTgal18 said:

Except that number has been on a steady decline since 2010 and Trump only took office in January of 2017. The article even says as much:

 

“Saying that black unemployment is this low “because of my policies” may seem a bit much, given the rate has simply kept falling at about the same rate that it had for the six years before Trump was elected.””

 

All this proves is he hasn’t done anything to screw up an already existing trend, not that he’s caused it...

 

(sorry if the font is big, I’m not sure how that happened or how to fix it)

 

I have seen people claiming that the current economic conditions are at least in part because of things Obama did yet no one has explained exactly what Obama did and how those actions improved the economy today. Care to explain?

[CTgal18 157]

14 minutes ago, jg121783 said:

I have seen people claiming that the current economic conditions are at least in part because of things Obama did yet no one has explained exactly what Obama did and how those actions improved the economy today. Care to explain?

The only thing I am claiming is what is exactly written in this article and the chart in the article that clearly says the same. You can take that argument up with those who claimed what you’re talking about.

 

Had the chart in this article showed numbers going upwards and then changing to downwards in 2017, I would understand your claim but that’s not the case. The downward trend was already there long before he came into office. Those are facts. Not claims. 

 

Edited June 2, 2018 by CTgal18

[CTgal18 157]

I realize now that I was reading another article where the actual chart was not this particular article. But there’s a chart from the US Bureau of Labor Statistics. Can’t argue with facts. 

 

Source: https://www.bloomberg.com/view/articles/2018-05-04/black-unemployment-is-at-an-all-time-low-but-there-s-a-catch

Edited June 2, 2018 by CTgal18
Added source of chart

[Voice of Reason 10,298]

The reason is because since the 2008/09 recession/depression, unemployment has been getting better.  It has little to do with either Obama or Trump, more to do with how our economy functions.  But guess what follows a high (better economy/lower unemployment)?  A low.  Without lows, there would be no highs.  It will fall again, and people will blame Trump.

[TBoneTX 45,550]

10 hours ago, jg121783 said:

the current economic conditions are at least in part because of things Obama did yet no one has explained exactly what Obama did and how those actions improved the economy today. Care to explain?

Trump is a fat orange Nixon, that's what & why.

[OriZ 3,157]

5 hours ago, IDWAF said:

The reason is because since the 2008/09 recession/depression, unemployment has been getting better.  It has little to do with either Obama or Trump, more to do with how our economy functions.  But guess what follows a high (better economy/lower unemployment)?  A low.  Without lows, there would be no highs.  It will fall again, and people will blame Trump.

You're starting to sound like me...

 

Although, as much as some would like to portray me as a perma-bear, this hasn't been true for quite some time:

 

 

So the proof is in the pudding, as they say, but make no mistake about it, nothing has changed fundamentally - infact valuations have only gotten richer. It will end and will end badly, just not quite yet.

 

 

 

[Voice of Reason 10,298]

My only beef with your prediction is that it really isn’t a prediction, since it is impossible to establish a timeline.  If you could do THAT, you would be my hero forever (well, you kinda are already, but maybe to Infinity and Beyond!)

 

What goes up must come down.  It’s true in physics, and it’s true in economics.  That’s why we say life is full of ups and downs, not life is full of positive slopes.

[TBoneTX 45,550]

6 minutes ago, IDWAF said:

It’s true in physics

     A mathematician, a biologist, and a physicist are sitting in a street cafe, watching people going into and coming out of the house on the other side of the street.

     First, they see 2 people going into the house.  After a while, they notice 3 people coming out of the house.

     The biologist says, "They have reproduced."

     The physicist says, "The measurement wasn't accurate."

     The mathematician says, "If now exactly one person enters the house, it will be empty again."

[Voice of Reason 10,298]

1 hour ago, TBoneTX said:

     A mathematician, a biologist, and a physicist are sitting in a street cafe, watching people going into and coming out of the house on the other side of the street.

     First, they see 2 people going into the house.  After a while, they notice 3 people coming out of the house.

     The biologist says, "They have reproduced."

     The physicist says, "The measurement wasn't accurate."

     The mathematician says, "If now exactly one person enters the house, it will be empty again."

You already shared that one a few months ago.  Please follow the intent of the TOS by not repeating articles.

[TBoneTX 45,550]

We often repeat ourself.

We often repeat ourself.