The unemployment rate for Asian Americans decreased from June to July, which was contrary to the general trend, as per data released by the U.S. Bureau of Labor Statistics on Friday. In July, the unemployment rate among Asian Americans dropped to 3.7% from 4.1% the previous month. This was in contrast to the overall unemployment rate, which increased to 4.3% in July from 4.1% in June.
On the other hand, the jobless rate for white Americans rose to 3.8% in July, up from 3.5% in June. For Hispanic Americans, the rate climbed to 5.3% in July compared to 4.9% in June. The unemployment rate remained steady at 6.3% for Black workers.
Regarding gender-specific data, the unemployment rate decreased for Black women, with their jobless rate declining to 5.5% in July from 5.7% in June. However, for Black men, the rate increased to 6.6% in July from 6.1% in June.
In July, the jobless rates rose for white men to 3.5% from 3.2%, and for white women to 3.4% from 3.1%. Similarly, the rate increased for Hispanic males to 4.4% from 4.2%, and for Hispanic females to 5.4% from 4.5%.
Data on jobless rates for Asian workers by gender was not readily available. Elise Gould, a senior economist at the Economic Policy Institute, highlighted the volatility in these numbers, especially for smaller population groups, and advised against drawing strong conclusions from the trends.
Gould emphasized that despite the overall rise in unemployment rate last month, the labor market remained robust for the prime-age employment group (ages 25 to 54), with an employment rate of 80.9% in July. She also noted that female workers in this age group were showing signs of recovery.
The overall labor force participation rate increased to 62.7% in July from 62.6% in the previous month. This rate represents the percentage of the population currently employed or actively seeking employment. For white workers, the labor force participation rate rose to 62.3% in July from 62.2% in June, while for Black Americans, it increased to 63.2% in July from 62.7% in June.
Among Hispanic workers, the labor force participation rate was 67.3% in July, slightly lower than the previous month’s 67.5%. The rate for Asians was 65.7% in July, down from 65.9% in June.
