The jobless rate ran higher overall, but slid for Black workers.
The overall unemployment rate climbed to 3.8%. The jobless rate came in ahead of the Dow Jones forecast of 3.5%.
The unemployment rate for Black workers declined, however, falling to 5.3% from 5.8% in the previous month.The unemployment rate for Black workers slipped in August, bucking the broader trend of a higher overall jobless rate.ticked up to 3.8% last month, the highest since February 2022. It came as the labor force participation rate – a measure of the number of people who are employed or seeking employment – climbed to 62.8% for its highest level since February 2020.
"I am relieved that the Black unemployment rate is coming down; it had been a little elevated a couple of months earlier," said Elise Gould, senior economist at the Economic Policy Institute."Hopefully that's a positive trend." Among Black workers, the labor force participation rate – which shows the number of people who are working or in search of employment – was little changed from the prior month. It came in at 62.6% in August, compared to 62.7% in July.
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