Biden Ignores Rising Black Unemployment

The Biden administration and the corporate media did all they could to put a positive spin on the recession the White House has induced by trumpeting the latest jobs report and the drop in the unemployment rate by 0.1 point to 3.5%. Of course, there was no mention of the fact that unemployment for blacks is going up after it fell to all-time lows under President Donald Trump.

The Department of Labor issued the latest jobs report on Friday, showing the economy added 528,000 jobs in July. That is in comparison to the 372,000 added in June.

Economic forecasters had estimated that the new jobs number for July would be 258,000. The day before the report was issued, White House press secretary Karine Jean-Pierre attempted to reduce expectations by telling media members that the administration was estimating only 150,000 new jobs would be reported.

That could have been a calculation to put more attention on the actual number reported on Friday as being better than expected. However, even though overall unemployment went down, the report indicates that 900,000 fewer Americans are in the labor force and seeking employment than in February 2020.

The report stated that although the total number of jobs has increased, “several sectors have yet to recover.” The leisure and hospitality category remains off by 1.2 million jobs from pre-pandemic levels.

The labor force participation rate fell in July to 62.1% as a result of the decreasing number of Americans who are actively looking for employment. That rate remained below the February 2020 level before COVID-19 “rescue” federal spending kicked into gear.

The report indicated that wage growth increased by 0.5% over June and shows a 5.2% increase over the last 12 months. That number is being rapidly outpaced by the surging inflation slamming the nation, with the consumer price index sitting at 9.1% over the last year.

While the decreased labor force participation rate and the return of part-time jobs are leading to lowered total unemployment, the black unemployment rate notably went up in July from 5.8% to 6.0%.

Washington Center for Equitable Growth market analyst Kathryn Zickuhr said that even though total unemployment decreased, “it doesn’t feel like a robust and broadly shared recovery.”