Jobs

black employment

By Ali Meyer – CNS News

(CNSNews.com) – A record 12,202,000 black people were not in the labor force in March, as the participation rate for this group declined over the month to 61.0 percent, according to data released from the Bureau of Labor Statistics (BLS).

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.

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“U.S. economic growth cooled in the first quarter as businesses cut back on investment and restocked shelves at a moderate pace, but stronger demand for automobiles softened the blow.

Gross domestic  product  expanded at a 2.2 percent annual rate, the Commerce Department said on Friday in its advance estimate, moderating from the fourth quarter’s 3 percent rate.

While that was below economists’ expectations for a 2.5 percent pace, a surge in consumer spending took some of the sting from the report. However, growth was still stronger than analysts’ predictions early in the quarter for an expansion below 1.5 percent. “

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“A record 5.4 million workers and their dependents have signed up to collect federal disability checks since President Obama took office, according to the latest official government data, as discouraged workers increasingly give up looking for jobs and take advantage of the federal program.  This is straining already-stretched government finances while posing a long-term economic threat by creating an ever-growing pool of permanently dependent working-age Americans.

Since the recession ended in June 2009, the number of new enrollees to Social Security’s disability insurance program is twice the job growth figure. (See nearby chart.) In just the first four months of this year, 539,000 joined the disability rolls and more than 725,000 put in applications.

As a result, by April there were a total of 10.8 million people on disability, according to Social Security Administration data released this week. Even after accounting for all those who’ve left the program — about 700,000 drop out each year, mainly because they hit retirement age or died — that’s up 53% from a decade ago.”

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