But by historical standards the current
black unemployment rate is consistent with the average from 1972 to 2004, and the ratio of black - to - white unemployment rates is actually below the historical average.
First, Dean Baker points to this great Bloomberg article by former Fed regional bank pres Narayana Kocherlakota (NK) on how,
since black unemployment typical runs 2x the overall rate, Fed policy is especially consequential for them (and other minorities).
This black man saw America open its heart to resettle thousands of Vietnamese refugees and to find jobs for them, even while the
native black unemployment remained at an all - time high.
But he knew that
black unemployment never sank below ten percent; and among black males under twenty - five, unemployment has ranged up to fifty percent in some recent years.
As to point 2 of the Brookings analysis: current Bureau of Labor stats
show black unemployment at the lowest point in 10 years.
Black unemployment is twice that of whites.
Since the government started tracking it in 1972,
the black unemployment rate had not fallen below 7 percent until December.
--
Black unemployment, which spiked last month, fell back down to 6.9 percent, close to its historical low, suggesting the tight labor market is helping to employ minority workers.
The Bush administration saw the biggest increase in
the black unemployment rate of any of the four preceding 2 term presidents
14 %
Black Unemployment, 11 % Latinos (under Bush it was 5.9 %).
And perhaps this is why Obama, trying to be non-racial, has done very little to alleviate
the Black unemployment.
The Congressional Black Caucus has 43 members and
the black unemployment rate is double the white rate *****