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Unemployment in Memphis hit a post-crisis low of 3.5 percent in April custom photo cufflinks sterling silver uk sale. It has since crept back above 4 percent, though partly because of more people joining the labor force. But with poverty rates here still among the highest in the country, workers, employment advocates, and government officials also say that is only half the story. For this good spell to truly matter to black Americans, they say, it will need to continue for years to come. Trump often highlights that overall U.S. unemployment has reached a 50-year low on his watch, and that joblessness among black Americans has set a modern record as well..
The unemployment rate for blacks sunk to 5.9 percent in May, the lowest since 1972 when the figure was first reported separately, but the milestone reflects a trend that took shape years before Trump took office. Black employment has risen about 1.3 million under Trump to hit a record 19.3 million in October, but job gains were the strongest during Barack Obama’s second term when recovery from the Great Recession became more firmly rooted. Recent data indicate job gains for blacks may already be leveling off custom photo cufflinks sterling silver uk sale.
In Memphis, state officials, job recruiters and executives credit a confluence of forces, including a continued boom in logistics, warehousing, and related jobs, for creating what one employment agency executive deemed a ‘gold rush’ moment custom photo cufflinks sterling silver uk sale. Yet what matters for them is not who gets credit for today’s strong labor market, but whether it will be durable enough to help workers weather the next downturn, something past upswings failed to accomplish. National data analyzed by Reuters shows minority hiring has remained clustered in industries such as food service, retail, and logistics that tend to pay less and have been quicker to lay off staff when the economy slows..
The fear is that will repeat itself, and that after outsized gains during the upswing, relatively more black workers will lose their jobs when leaner times arrive. That is what happened during the last recession, when white unemployment peaked at just over 9 percent while black unemployment shot above 16 percent. As a result, past recoveries have done little to narrow the gap between black and white incomes, as numerous studies, including recent work by the Atlanta Federal Reserve, have documented custom photo cufflinks sterling silver uk sale.
Nationally, median incomes for black families remain a third below white household incomes custom photo cufflinks sterling silver uk sale. In Memphis the gap is even larger, with a $31,000 median annual income for blacks representing just 54 percent of that of white families. “It is a good thing that African American unemployment is at a very low level,” Fed chair Jerome Powell said at a meeting with community groups in Houston this month. “(But) if you look at what happens in a downturn you see the last people hired are the first to get fired,” he said..