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 Americans has risen precipitously for three straight months. A CNN article called the trend “a warning sign for America’s economy, “foretelling a slowdown for the broader job market.”
“The most vulnerable people tend to get laid off first, and unfortunately, that tends to be Black Americans, and that’s something that is very disturbing in and of its