Wednesday, June 24, 2009

Black Unemployment Rate reaches 14.9%

Black Unemployment Rate reaches 14.9%

The US Bureau of Labor Statistics released it May unemployment report showing the Black unemployment rate was 14.9%. April's Black unemployment rate was 15.0%. The rate has increase by more than 5% over last year. The May 2008 rate was 9.7%. U3, is the most commonly used unemployment measure.

The government also released the more representative U6 rate. U6 is at 16.4% for the whole US population. U6 is the highest it has been in 10 years. U6 measures unemployed workers plus part time workers who want full-time work plus marginally attached (MA) workers. Marginally attached workers have looked for work in the past and are willing to work but are not currently looking. Marginally attached workers include discouraged workers.

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