The number has increased by 267,000 since April, meaning they account for close to 90% of the 300,000 increase in overall joblessness during that period.
The unemployment rate for African Americans jumped for a second straight month in June as workers left the workforce amid early signs of a cooling labor market.
Black workers are often among the first to be fired as the economy begins to weaken, research shows, and the recent declines in employment could be a canary in the coal mine for the broader labor market.“If conditions continue to weaken, or even accelerate, the gains won by Black workers and other vulnerable groups could diminish quickly,” said William Rodgers, director of the St. Louis Fed’s Institute of Economic Equity.
Black Americans, however, are leaving the workforce after months of improvement in their labor participation culminated in a 15-year high earlier this year. Employment for that group declined by 3% in three months, one of the largest drops on record.
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