US EditionWhy Rising Black Unemployment Is a Warning Sign for America's Economy
Black unemployment reached 7.5% in August, the highest since 2021, reflecting slower job recovery and economic challenges for Black communities and businesses, experts say.
- On Friday, the Bureau of Labor Statistics reported the unemployment rate for Black Americans reached 7.5% in August, a rise singled out as troubling for the United States economy.
- Slower post‑job‑loss recovery among Black workers has caused unemployment to rise for three straight months, concentrating impact as Black Americans compose about 13% of the US workforce.
- Data show that while White unemployment fell from 14.2% to 12.4%, Black unemployment remained at 16.8%, indicating a persistent racial gap, reported by the Bureau of Labor Statistics.
- Small Black-owned businesses report weaker sales and layoffs, with Charmaine Gibbs-West in Atlanta cutting one contractor until the fourth quarter, as falling employment harms Black communities and the US economy.
- Given that 58% of Black Americans prioritize Black-owned brands, Nielsen projects Black buying power will reach $2 trillion by 2026, affecting demand and economic stability.
34 Articles
34 Articles
Why rising Black unemployment is a warning sign for America’s economy
August, which is heralded as Black Business Month, should have been a time to celebrate the Black labor force. But last month’s jobs report showed unemployment rates increased for Black workers — and it could point to an economic slump.
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Black Unemployment Spikes To Highest Point Since Pandemic
Source: Twenty47studio / Getty The Black unemployment rate is the highest it’s been since the pandemic, and many economists are worried that this is an indicator that the economy may be heading toward a recession. Despite President Trump firing the Bureau of Labor and Statistics director, Erika McEntarfer, the dismal report was still released showing that the unemployment rate among Black Americans hit 7.5% in August, the highest unemployment r…
Black unemployment is surging
Buried inside Friday’s jobs report was troubling news: The unemployment rate for Black Americans continued to rise, reaching 7.5% in August. Why it matters: Black Americans make up about 13% of the U.S. workforce. The unemployment rate reflects the percentage of people looking for work but can’t find it. In contrast, the August unemployment rate for all Americans was 4.3%, while it was 3.7% for white workers. The unemployment rate for Black Amer…
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