BLACK TEENAGE UNEMPLOYMENT RISES TO 40.6%
9.5% unemployment is not distributed fairly amongst the population. Some suffer worse than others. The young fare the worse.
The percentage of unemployed under 20 increased from 23.2% to 23.5%
The number of unemployed Blacks under 20 increased from 39.9% to 40.6%
The number of unemployed Blacks over 20 went up from 15.4% to 15.6% despite the fact that their participation in the labor market continues to go down from 61.9% to 61.5%.
It should be noted that this time unemployment amongst college graduates also went up from 4.4% to 4.5% and their participation in the labor market declined from 77.6% to 76.2%.
The good news is that unemployment amongst those without a high school diploma not only fell from 14.1% to 13.8% but this at a time when their participation in the labor force increased from 45.4% to 47.3%. The increase of jobs in manufacturing and healthcare may have something to do with it.
Yes, the disparity in the numbers is striking and had this been a Republican administration, MSM would not have ignored it so. I suspect the decline has something to do with the loss of government jobs and the continued decline in financial sector jobs.
What should be done?
1.There should be an end to governmental activism. Businesses must be permitted to be able to plan again.
2. A cut in minimum wage to increase teen age unemployment.
3. For the sake of these United States, savings, not consumption, should be encouraged.
In other words, we must stop digging.
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