(CNSNews.com) – The black youth unemployment rate for ages 16-19 is 393% higher than the national unemployment rate, according to data released today by the Bureau of Labor Statistics (BLS).
As of October 2013, the unemployment rate for this demographic was 36.0 percent, an increase over last month’s rate of 35.1 percent. The national unemployment rate currently stands at 7.3 percent.
The unemployment rate is the percentage of people in the labor force who do not have a job. To be in the labor force a person must either have a job or actively sought one in the last four weeks.
Fewer black youth held jobs in October with the number of employed decreasing from 487,000 in September to 444,000. This means 43,000 fewer black youth held jobs in October.
Additionally, the participation rate for black youth has decreased from 29.4 percent in September to 27.3 percent in October, a decrease of 2.1 percentage points.
The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.
- See more at: http://www.cnsnews.com/news/article/ali-meyer/unemployment-among-black-youth-393-higher-national-rate#sthash.0TAsjv63.dpuf
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