The good news is the unemployment rates for all American groups have been trending downward since the Great Recession. However, discrepancies in unemployment rates still exist. That is, if Asian unemployment is compared to black unemployment, for example, one can see a staunched difference in unemployment rates over the course of the year.
Upon closer review, Asian unemployment was the lowest throughout the year and ended in December with a 2.6 unemployment rate, which was one and half times lower than white unemployment. Asian umemployment was also more than two times lower than Hispanic unemployment, and three times lower than black unemployment.
White unemployment followed with a close second throughout the year and finished with a 4.3 unemployment rate. And finally, Hispanic unemployment was consistently third while black unemployment was the highest throughout 2016.
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However, it should be noted these are national monthly rates and do not describe and make distinctions between unemployment rates between federal and state levels, between federal and city levels, and between state and city levels, although this website will make such distinctions in future articles.
And of course, this doesn’t take into account the national montly unemployment rate, which was 4.7 in December, for example.
If one wanted to make a distinction between the national monthly unemployment rate and the unemployment rates provided in the graph, one would see that Asian and white unemployment rates were below the December national monthly unemployment rate of 4.7; whereas, black and Hispanic unemployment rates were above the December national montly unemployment rate of 4.7
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Categories: Economic News