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Sept. 2024 Employment Data: Improvement for Black Workers, Positive Change Elsewhere

September, 2024 Unemployment: Key Findings

  • White unemployment stands at 3.6%, relatively stable compared to earlier months.
  • Black unemployment at 5.7%, a significant decrease from its peak of 6.4% in March 2024.
  • Asian unemployment remains low at 4.1%, showing little fluctuation.
  • Hispanic or Latino unemployment at 5.1%, consistent with previous months.

Analysis:

  • Total nonfarm payroll employment increased by 254,000 in September, and the unemployment rate fell from 4.2 to 4.1 percent.
  • The higher unemployment rates among Black individuals continue to signify systemic employment challenges.
  • Asian individuals have maintained a lower unemployment rate, while Hispanic or Latino populations also face notable but slightly elevated rates compared to Asians.
  • While the decline in Black unemployment suggests some improvement, it remains significantly higher than other groups.

Conclusion:

The September, 2024 unemployment data highlights ongoing disparities in employment across racial and ethnic groups, underscoring the need for continued efforts to address these inequalities.

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