By Economics Editor
Are asians the most employed for the month of June? Yes! That’s correct. Asians finished first nationally with the lowest unemployment rate. This is according to the labor force statistics from the Current Population Survey, which is a monthly survey of households conducted by the Bureau of Labor and Statistics.
The unemployment rate measures the number of those unemployed divided by the labor force per month.
As the graph and table illustrate, Asians finished with an unemployment rate of 3.5 percent for the month of June. Matter of fact, this was nearly a percentage point higher than the next group, whites, which finished with an unemployment rate of 4.4 percent for the month.
For the month of June, Asians finished first with an unemployment rate of 3.5 percent, whites finished second with an unemployment rate of 4.4 percent, Latinos (Hispanics) finished with an unemployment rate of 5.8 percent, and blacks finished with an unemployment rate of 8.8 percent. And as Asians have finished first in unemployment for each month this year so far, blacks have finished with the lowest unemployment rate in each month from January through June.
Going back further in the data to the beginning of 2015, the patterns of unemployment for each racial group has been fairly consistent; that is, Asians are first, whites are second, Latinos are third, and blacks are fourth. The good news is that the unemployment rate has been decreasing or the same for all groups.
Copyright ©2016 – The Systems Scientist