After the racial gap in unemployment was at its slimmest in months, an increase in unemployment among Black workers is causing some concern over lapsed progress for the Black labor force.
, an associate professor of economics at John Jay College at City University of New York.
For Black men, the unemployment rate increased from 4.5% to 5.6%, according to the report. More Black men work in transportation or warehousing compared to Black women, who, in addition to being heavily represented in the public sector, also work in retail, leisure and hospitality, Holder said., the lowest in more than 50 years, Holder said.
While loss of income from unemployment can affect any household, it can create even more economic challenges for Black families, who are less likely to have savings or multiple people earning incomes, said Valerie Wilson, the director of the Economic Policy Institute’s Program on Race, Ethnicity, and the Economy.
“That level of economic insecurity, I think, feeds into the more harmful impact of a job loss when you don’t have another earner in your household income,” Wilson said. “And then if there are not sufficient savings to sort of fill in that loss of income until someone can find a job.” Despite the recent increase, experts said the overall unemployment rate for Black people has declined since 2020, when it was at historically high
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