Unemployment in Downward Spiral in Black Communities

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Unemployment in Downward Spiral in Black Communities
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Donald Trump’s administration just gave the the African-American community a reason to celebrate in a way that Barack Obama never could: namely, on jobs.

A new report from the Bureau of Labor Statistics found that unemployment in the black community has fallen steadily from 8.1 percent in the first full month that Trump was in office — February — until it hit 7.5 percent in May.

The 7.5 percent unemployment level is the lowest level for African-Americans in almost 17 years. It had been at 8.0 percent in March and 7.9 percent in April.

“The black unemployment rate is twice as high in good times and in bad times, but we’re moving from terrible times to good,” Heidi Shierholz, a senior economist and director of policy at The Economic Policy Institute, told Yahoo Finance.

“At least as far as the number of jobs and the unemployment rate are concerned, we’re heading in a very good direction. This means we see the overall unemployment rate and the black unemployment rate come down in lockstep.”

Shierholz noted that this was due to strengthening macroeconomic conditions. “Empirically, the effect is stronger the further down the wage distribution you go,” she said. “Labor market conditions matter the most for low-wage workers, and to the extent that you have African-American workers disproportionately concentrated at the lower end.”

Needless to say, liberals were thrilled at this news, right? Well, as you might imagine, the answer to that question is no…

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