According to the BLS, the more than 12 million black people not in the labor force in March means that they did not have a job or actively seek one in the past four weeks. The number climbed from 12,122,000 in February to 12,202,000 in March, an increase of 80,000.
The labor force participation rate for this group, which is the percentage of the population who participated in the labor force by either having a job or actively seeking one, declined from 61.2 percent in February to 61.0 percent in March.
The unemployment rate for black people in March was 10.1 percent, which is nearly double the overall national unemployment rate of 5.5 percent. Last month, the unemployment rate for black people was 10.4 percent. | CNS News
No Bueno: 47 Percent of Black Households Do NOT Have an Emergency Savings – Financial Juneteenth
Many Americans are faced with a lot of financial problems, and this is a fact for 47% of African-American families. According to Neighbor Works America, a survey conducted in its second-annual consumer finance report found that approximately 34% of Americans don’t have any emergency savings and 25% of Americans have only enough to support themselves for a month. The lack of savings affects Black families even more than others, with many of these families being in the low-income bracket and having no college education.
Americans Not in Labor Force Exceed 93 Million for First Time; 62.7% Labor Force Participation Matches 37-Year Low | CNS News
The number of Americans 16 years and older who did not participate in the labor force--meaning they neither had a job nor actively sought one in the last four weeks--rose from 92,898,000 in February to 93,175,000 in March, according to data released today by the Bureau of Labor Statistics.
That is the first time the number of Americans out of the labor force has exceeded 93 million.