Black unemployment and the black-white employment gap have fallen to the lowest levels ever recorded, and members of the Project 21 black leadership network are cheering the economic policies of the Trump Administration for ushering in historic levels of opportunity and equality for black Americans.
"Love him or hate him, this is an incredible economic accomplishment for the President and a tremendous benefit for American blacks," said Project 21 member Derryck Green.
Along with a reported third straight month of 3.7 percent overall unemployment, the federal Bureau of Labor Statistics (BLS) August jobs report noted that the overall black unemployment rate fell half-a-percent to 5.5 percent. This is the lowest black unemployment rate ever recorded. BLS began reporting employment statistics by race in 1972. And with overall white unemployment at 3.4 percent, it is also the smallest reported gap between the races ever in terms of joblessness. Until recently, the racial employment disparity between blacks and whites has generally held to a 2-1 margin.
"Once again, unemployment among blacks has reached a record low, " remarked Project 21 Co-Chairman Horace Cooper. "Before his first term is over, President Trump's high-growth/low-tax/limited regulatory policies will have set more high employment records than Obama's slow-growth/high-tax/high regulatory policies could in eight years."
In addition to black Americans, drops in unemployment have also been seen among Hispanics, Asian-Americans and other groups.
"A strong U.S. labor market and flourishing industries have contributed to unemployment nationwide being near a 50-year low. Many who have previously been left out of the workforce – including women, minorities and workers with disabilities – have all seen gains during the Trump Administration," said Project 21 member Derrick Hollie. "And the unemployment rate for black Americans dropped to a record low of 5.5 percent in August. It narrowed to being 1.62 times the white unemployment rate. This is the smallest gap ever. Most economists use gross domestic product (GDP) and unemployment to gauge how well our country is doing. So all this shows America is doing okay right now."
"Black unemployment hitting a recorded all-time low is bad news for those who take black political support for granted," noted Project 21 member Leo Fuller. "For too long, many ethnic communities have largely been afraid to leave the liberal orthodoxy because they were told it was necessary for the government to provide for them. Liberals, to keep and expand their power, must now tell blacks, Hispanics and others that they have to work against their own pocketbooks."
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