*No matter how you spin it, this ain’t good.
*From the Chicago Urban League…
*While the overall trend of dropping employment rates for all race-ethnic groups continued through 2012, Black teens had the lowest employment rates across all geographic areas.
*Nationally, the employment rate of Black teens has sustained a declining trajectory dropping from 25% employed in 2006 to 18% in 2012 and faring worse than their Hispanic and White peers.
Breakdown of stats continues at EURThisNThat.
*You’re so fired.
How many times do we have to be told “Be careful what you say on social media?”
As sure as rainfall, it came back to bite one woman square in the arse.
*(Via theGrio) – U.S. employers added 169,000 jobs in August and much fewer in July than previously thought.
Hiring has slowed from the start of the year and could complicate the Federal Reserve’s decision this month on whether to reduce its bond purchases.
The Labor Department said Friday that the unemployment rate dropped to 7.3 percent, the lowest in nearly five years. But it fell because more Americans stopped looking for work and were no longer counted as unemployed. The proportion of Americans working or looking for work fell to its lowest level in 35 years.
African-American employment went up slightly from a yearly low of 12.6 to 13 percent, but black teen joblessness (still the highest of any group) went down from 41.6 to 38.2 percent.
July’s job gains were just 104,000, the fewest in more than a year and down from the previous estimate of 162,000. June’s figure was revised to 172,000, from 188,000. The revisions lowered total hiring over those two months by 74,000.
Employers have added an average of just 148,000 jobs in the past three months, well below the 12-month average of 184,000.
Get MORE of this story at theGrio.
*(Via NBC News) – The U.S. economy created fewer jobs than expected in July, with the bulk of the them in areas, such as retail and restaurants, that typically are low-paying.
The Labor Department, in its widely watched jobs report, on Friday said non-farm employment rose by 162,000 and the unemployment rate slipped to 7.4 percent, the lowest in over four years. Gains in employment fueled some of that decline, but the labor force also shrank during the month, robbing some of the luster from the decline in the unemployment rate.
Employment increased in retail trade, food services and drinking establishments, financial activities and wholesale trade.
The jobs growth, which missed expectations of an increase of 183,000 jobs, was enough to show the labor market continues to expand, but at a sluggish pace.
Meanwhile, Black unemployment fell from 13.7 to 12.6 percent, a low for the year. And black women also saw their best numbers in over a year. Joblessness for African-American women fell to 10.5 percent from 12.0 in June.
Read/learn more at NBC News.
*The new job numbers for September were released earlier this morning.
We’re sure they made The Mittster and his boys want to cry. On the other hand they probably made President Obama and crew shed a tear as well. In fact several tears. Tears of Joy!
However, they’re not going too overboard. At least not publicly, according to this report from Yahoo News’ The Ticket.
The White House cautiously welcomed news Friday that the unemployment rate fell from 8.1 percent to 7.8 percent in September as vindication of President Barack Obama’s policies—but emphasized that there is more to do to sweeten the sour economy.
“While there is more work that remains to be done, today’s employment report [from the Labor Department] provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression,” the chairman of Obama’s Council of Economic Advisors, Alan Krueger, said in a White House blog post. His comments were the Administration’s first response to the jobs report.
“It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007,” Krueger wrote.
The unemployment rate has now slipped below 8 percent for the first time in about four years. The number of jobless Americans fell to 12.1 million, the fewest since January 2009, when Obama took office.
The economy created 114,000 jobs in September, said the department, which also revised upward the number of jobs added in July and August by 86,000. The figures paint a picture of a still-weak recovery from the global economic meltdown of 2007-2008, with stubbornly high unemployment and continued woes in the housing sector. And while Democrats highlighted that the economy was losing hundreds of thousands of jobs per month when Obama took office, Republicans, led by presidential nominee Mitt Romney, highlighted anemic growth.
Of course Mitt Romney has no choice but to throw shade on an other wise optimistic report:
“This is not what a real recovery looks like,” Romney said in a written statement on Friday. “We created fewer jobs in September than in August, and fewer jobs in August than in July, and we’ve lost over 600,000 manufacturing jobs since President Obama took office. … The choice in this election is clear. Under President Obama, we’ll get another four years like the last four years. If I’m elected, we will have a real recovery.”
Yeah Mitt. Whatever. Read/learn more at The Ticket.
*Not all college degrees are created equal.
This is according to a recent report by Georgetown University’s Center on Education and the Workforce. The major you choose could reduce your chances of being part of the latest unemployment statistic—or make you the newest member of the club.
It would be in your best interest to heed the study’s warning: Choose your program of study carefully. Here’s a list of degrees that might put new college graduates out of luck when looking for employment.
Check out the list below:
No. 7: Law and Public Policy. Recent college graduates who major in law and public policy will face an unemployment rate of 8.1%. The Georgetown University study finds that unemployment rates tend to be higher in non-technical majors.
Read more at BlackEnterprise.com