The Puzzle of the Unemployment Rate
The Bureau of Labor Statistics released its latest report on the job market on Aug. 2. It had some good news for African Americans: The black unemployment rate in July dipped to 12.6%, its lowest level since January 2009. The BLS also reported that since August 2012 the unemployment rate for adult black men (those older than 20) remains below its 14.4% level in January 2009 and was reported at 12.5% in July. More importantly, the share of black men holding jobs continues to rebound from its record low of 56.5% in 2011 to 59.2%, almost equal its level of 60.4% in January 2009. That was the good news.
