According to new data released by the Bureau of Labor Statistics (BLS), black unemployment is at an all-time low of 4.7%.
When the Bureau of Labor Statistics (BLS) started gathering its data in January 1973, Black Unemployment stood at 11.2 as opposed to 5.2 percent for Whites. Black unemployment has historically been almost double or 3 quarters of the White unemployment rate for much of the half-century since the data collection started.
Black unemployment dropped to 5.0 % in March, the lowest record since the data collection began in the 1970s. The White House termed the news as “an incredible milestone.” White unemployment in March stood at 3.2%.
April has seen the rate fall down even further to 4.7%, a new historic low.
According to the BLS report, the economy added 253,000 jobs in April despite the increase in interest rates.
Overall unemployment is also the lowest it has been since 1969 at 3.4%.
The Biden Administration claims that the American Rescue Plan initiated by it to help provide direct financial relief during the pandemic has helped to keep unemployment levels low.
