Black Unemployment Jumps to 7.7%
Five days after the trump administration proclaimed that "African-American unemployment stands at the lowest rate ever recorded,” the US Department of Labor reported on Friday that Black unemployment for the month of January jumped to 7.7%.
As we noted on 12/30/17 in our Fully Adjusted Return Economic Forecast summary,
"Black unemployment falls at the end of a sustained period of domestic economic growth and falls with a decline in immigration. This is counterbalanced, however, by increasing racism in general and specifically negative, anti-Black racial attitudes. Given an increase in the latter, we expect Black unemployment to increase toward the end of 2018, despite positive headwinds from reduced immigration."
Note that our June 11, 2016 Fully Adjusted Return Election Forecast also correctly predicted Donald Trump's win, and can be found at: https://www.linkedin.com/pulse/why-trump-win-william-michael-cunningham-am-mba/
For the full 2018 Economic forecast, please join us at 6 pm on February 13, 2018 (1/9/2018). RSVP at https://forecast2018.eventbrite.com
Also see: Why Janet Yellen is wrong on Black unemployment, published on July 17, 2015, at https://www.linkedin.com/pulse/why-janet-yellen-wrong-black-unemployment-cunningham-am-mba/