The June Report from the Bureau of Labor Statistics shows a strengthening economy, particularly good for minorities. The DNC calls it “reckless.”
After eight years of a moribund economy under Obama, an eight year stretch that was particularly hard on minorities, it is indeed good to see an increasing number of people returning to the workforce. So June’s jobs report from the BLS: over 600,000 people returned to the workforce; 213,000 new jobs added; minority unemployment at record lows. As always, for a complete analysis, visit Tom Blumer’s Bizzy Blog.
We still have a long way to go to recover from the damage done by eight years of Obama and the Democrats sub-prime nuclear explosion in our economy. On the first month of Obama’s presidency, in Feb. 2008, the Labor Force Participation Rate stood at 66.0%. In the last month of his Presidency, Dec. 2016, it stood at 62.7%. Now, with people returning to the workforce in an improving economy under Trump, that number is slowly going back up. It stands in June at 62.9%.
From IBD: The U.S. Colorblind Jobs Boom Continues
It may be a surprise, but President Trump is nowhere near as unpopular among minority voters as the biased mainstream media suggest. Why is that? In a word, jobs.
Trump, it turns out, has been the most consequential president in history when it comes to minority employment. In June, for instance, the unemployment rate for Hispanics and Latinos 16 years and older fell to 4.6%, its lowest level ever, from 4.9% in May. The previous all-time low was 4.8%.
African-American unemployment bounced up from its all-time low of 5.9% in May to 6.5% in June. But that 6.5% still represents the second-lowest unemployment reading ever for Black Americans.
As for Asian-Americans, unemployment similarly bounced off its all-time low of 2.1% in May, rising to 3.2%. And that’s still 0.6 percentage point lower than when Trump entered office.