Economy

The unemployment rate for Black men fell in October, but so did labor force participation

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A Now Hiring sign at a Dunkin’ restaurant on September 21, 2021 in Hallandale, Florida.

Joe Raedle | Getty Images

The unemployment rate for Black men ticked down in October while it rose for most other groups, but that may be because workers are dropping out of the labor force.

The October nonfarm payrolls print showed that the U.S. economy added 261,000 jobs in the month and that the unemployment rate for all workers increased to 3.7% from 3.5%.

For Black men, unemployment fell to 5.3% from 5.8% a month earlier on a seasonally adjusted basis. White unemployment rose to 3.2% overall up from 3.1% a month earlier.  

“It went in the right direction for the wrong reasons,” said Bill Spriggs, an…



Source cnbc.com

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