Watching the employment data for Black workers can give a closer look at the relative strength of the U.S. economy
"We know that for every one percentage point change in the national unemployment rate, we typically get close to a two percentage point change in the Black unemployment rate," she said.The U.S. labor market has been a source of confusion, and perhaps even frustration, as of late. While adding jobs is a good thing, it also signals to the Federal Reserve that its inflation-fighting rate hikes may have not slowed the economy enough to achieve its goal..
Spriggs has been closely watching these figures as any lag in Black workforce participation amid an otherwise strong labor market signals that employers aren't as eager to hire as they say — and that jobs listed as open may not be readily available for workers looking for positions.The data on Black workers reentering the labor force and finding jobs has been relatively stable, said Wilson.
a 0.25 percentage point rate hike, in line with consensus, and noted that they see disinflation beginning. Spriggs worries about further hikes, as he sees a potential policy mistake by the Fed as the most damaging for Black workers, especially low wage ones.
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