Black Unemployment Soars in America's Job Slump
This week, the Bureau of Labor Statistics released a delayed jobs data report from the last two months.
And among the troubling trends was the glaring fact: Black workers are feeling the brunt of an already challenging labor climate.
NBC News reports that the unemployment rate among Black workers has risen higher and faster than the overall rate of joblessness in recent months.
This November, the unemployment rate for Black workers was at 8.3%. This is a full 3.7 points higher than that of the broader U.S. workforce.
As for the overall numbers, here’s how it all stacks up:
The economy added 64,000 jobs in November — a modest gain following a steep loss of 105,000 jobs in October, the third monthly drop in just half a year.
Unemployment has now risen from 4% at the start of the year to 4.6%, matching levels not seen since 2021 and signaling that it's getting rough for people to land work.
As for the industry that's seen the most positive change?
Healthcare did most of the heavy lifting in November, adding about 46,000 jobs and making up more than 70% of the month’s net gains, while construction and social assistance also grew.
“The US economy is in a jobs recession,” wrote Heather Long, chief economist at Navy Federal Credit Union, in a statement.
“The nation has added a mere 100,000 in the past six months,” Long continued. “The bulk of those jobs were in health care, an industry that is almost always hiring due to America’s aging population. Almost all other sectors are flatlining or laying workers off right now.”
CNN reports that hiring in most industries has also stalled out this year, as employers are feeling uncertain about the current environment.
For many younger workers and career changers, that mix means fewer openings in some of the most visible, frontline roles.
Annual wage growth slipped to 3.5%, which is the lowest in more than four years.
That cooler wage growth helps ease inflation pressure but also makes it harder for workers to keep up with rent, food, and student loans, especially in high-cost cities.
Economists say the labor market is not in free fall, but it is clearly cooling after the hot post-pandemic rebound. With job growth stuck at low levels and unemployment drifting higher, the latest numbers suggest a more fragile economy heading into the new year, where stability at work can no longer be taken for granted.