Showing posts with the label white unemployment

Declining Black/White unemployment differential

Our Fully Adjusted Return (tm) model predicted Black Unemployment would fall from 9.5% in June to 9.1% in July. 
The forecast was confirmed this morning by the US Department of Labor - Bureau of Labor Statistics. 
The difference between Black and White unemployment now stands at 4.5%. We note this is the second lowest differential of the Obama Presidency, surpassed only by a 4.0% differential in February, 2008. Our Fully Adjusted Return model shows that the difference is poised, assuming the Fed does not raise rates, to fall further. See:

Unemployment in Black and White

We created the chart at left showing black versus white unemployment in August, 2011. Black unemployment was reported at 16.7%, higher than the 16.2% rate reported in August 2010. Black unemployment was 15.5% in July, 2011. White unemployment fell to 8% in August from 8.1% in July, 2011. Further, white unemployment was 8.7% in August, 2010.
I think this puts the recession into clear perspective. While some (the Tea Party in particular) have done a lot of whining, they are in no way, shape or form bearing the brunt of this recession.