The unemployment rates for African-Americans dropped to record lows in December 2017, underscoring the health of the U.S. economy heading to 2018. The jobless rate for black workers in December 2017 fell to 6.8% from 7.5% comparing with December 2016, as more of them found employment in an increasingly tight labor market. The unemployment rate for African-Americans, though now at its lowest level in records dating to 1972.
Michael Feroli, an economist from JP Morgan Chase, notes that the gap between the black and white unemployment rates is the narrowest on record. And the rate for those who have served in the US army is also lowest since September 2001, dropped to 3.3%.
December 2017 broth a significan number of jobs. Biggest gains came from health care (31.000 jobs), construction (30.000 jobs) and manufacturing (25.000 jobs). Bars and restaurants added 25.000 jobs while professional and business services grew by 19.000 jobs.
The report comes according the expectations for growth overall. GDP rose 3.2 % in the third quarter and 3.1 % in the second quarter, and the Atlanta Fed projects the third quarter to register another 3.2 % gain. So, In the 45 years the data has been measured, the unemployment rate of the African-American workers aged 16 years and older has never fallen below 7 %.