African-American Unemployment Rate Rose To 14.4 Percent In June
Source: Joyce Jones / BET
On Thursday, the Labor Department reported that applications for unemployment benefits fell by 14,000 in the week ending June 30 to 374,000, its lowest level since mid-May. Experts often consider such drop-offs good news because they signal that there have been fewer layoffs. But pessimists say that it actually means that people have lost hope and have abandoned their job searches.
“I think it might be better than most people expect. The numbers that came out in terms of first-time jobless claims were much lower than expected, the ADP report says the economy added 76,000 more jobs than predicted and residential construction is up,” said Thomas Boston, an economist at Georgia Tech University.
He was not, however, so optimistic about the African-American unemployment figure, which he suggested could go up after last month’s “big dip.” If indeed the economy is improving, the old adage “first fired, last hired” will probably affect Black jobless numbers.
To read this article in its entirety visit BET.
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