Spike in black unemployment 'heartbreaking' – Fed's Powell

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While the United States posted a surprising decline in its overall unemployment rate in May 2020, for black workers it actually ticked up a notch.

PORTRAIT. An image of George Floyd is painted on the road near a memorial site in Minneapolis, Minnesota, on June 3, 2020. Photo by Stephen Maturen/Getty Images/AFP

After falling to its lowest on record in February, 5.8%, black unemployment spiked to 16.7% in April. And despite an unexpected decline in theFor Hispanic workers, unemployment surged to 18.9% but dipped in May to 17.6%. "But obviously, that's something that's going to require an all of society, all of government response."

 

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