Who isn’t benefiting from the Obama economy? Black people who want to work, that’s who. The latest round of employment data from the U.S. Bureau of Labor Statistics (BLS) continues to indicate that black Americans are among the big losers in the president’s hollow economic “turnaround.”
As the labor force posted its first real net gains in many months, October’s employment data shows that black people in the workforce continue to fare poorly. Last month, 114,000 blacks dropped out of the labor force. The number of blacks with jobs in the U.S. as a whole also fell by 41,000.
Those numbers came in the same report that showed increases in net employment numbers for the general population.
“[T]he employment picture for all Americans aged 16 and older improved from September to October, as the overall unemployment rate declined from 5.9 percent to 5.8 percent, the number of employed increased from 146,600,000 to 147,283,000, and the number of unemployed decreased from 9,262,000 to 8,995,000,” CNS News reported Friday.
The labor participation rate — the same metric that found 114,000 black people had stopped looking for work — also improved for the general population, according to the BLS.
“Those not in the labor force, which are those who not only did not have a job, but they did not actively seek one in the last four weeks, declined from 92,584,000 to 92,378,000,” CNS News reported.
The October unemployment rate for black Americans came in at 10.9 percent, compared with 5.8 percent for the population as a whole.