Monday, July 6, 2009

Good News Black Obamites!! The GROWTH Of Black Unemployment Has Slowed!

Growth in unemployment slows down

You gotta love the editors of these news stories.

Net GROWTH is now "A Slowing Growth".

Black men, too, actually have higher rates than the official unemployment rate of 16.4 percent reported in June, Mr. Holzer said.

Teenagers, officially those aged 16 to 19, had particularly high rates of unemployment. Unemployment for white teens last month was reported at 21.4 percent while black teens were far worse off with a 37.9 percent unemployment rate. That translated to 1.16 million unemployed white teenagers and 276,000 unemployed black teenagers.

Overall unemployment officially hit 14.7 percent for black men and women of all ages, but Algernon Austin, director of the Program on Race, Ethnicity and the Economy for the Economic Policy Institute in Washington, D.C., said it is probably closer to 16.5 percent. It's difficult to contact and accurately survey unemployed people.

He said African-American unemployment would have climbed higher if that population had been swept into the housing boom that led up to the housing bust.

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