June saw another record jump in employment, which is good news. But it is good news the same way that opening a dam lets the water take its natural course. The increase is a result of the government getting out of the way and the economy doing what it has wanted to do for months.
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Bet You Didn’t Know – Black Unemployment Hit a Record Low In May
Last Month, in April of 2018, the unemployment rate for black Americans hit a record low. You probably didn’t know that for the same reason you didn’t know this.
Black unemployment fell precipitously to 5.9 percent after a record-setting low of 6.6 percent the previous month, while unemployment for white workers dropped from 3.6 to 3.5 percent.
Overall unemployment, according to the Department of labor, dropped to 3.8%, the lowest it’s been since Y2K.