Black American lack of confidence in the labor markets was on display in this jobs report. Approximately 18,383,000 blacks were either working or looking for work in July vs. 18,541,000 in June.
Approximately 15,798,000 blacks were employed in July, down from 15,872,000 employed in June. Latinos fared a little better. While the Latino labor force shrank from 24,588,000 in June to 24,497,000
in July, the number of Latinos employed increased from 21,885,000 in June to 21,966,000 in July.
Will have to keep digging into the numbers, but this may have to do with disproportional representation in certain temporary jobs, being priced out of the labor market, or lack of certain skills….The areas with large increases in job hiring were professional and business services, and the hospitality area. The utilities sector, which has a significant number of black employees, fell in employment. No hiring in state and local government, areas with high black employment, was identified.
Expect no short term policies out of Washington, particularly from the Federal Reserve or Congress, to alleviate this.
As Kirk said to Uhura in the second scene of “City on the Edge of Forever”, “We are totally alone…”