Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Walgreens Store Closures: Full List of Locations Shutting Down This Month

    June 4, 2025

    Expert Predicts Summer 2025 Travel Deals: 5 Budget-Friendly Destinations to Book Now

    May 28, 2025

    Walmart Addresses Trump’s Demand to Cover Tariff Costs

    May 25, 2025
    Facebook X (Twitter) Instagram
    Friday, June 6
    X (Twitter) Instagram
    NinepenniesNinepennies
    • Home
    • Featured

      The Highest-Paying Jobs in America—And It’s Not in Finance!

      March 27, 2025

      7 Must-Buy Costco Sale Items Before They’re Gone This February 

      February 10, 2025

      Steel Stocks on the Rise: 3 Winners After Tariff Announcements

      February 4, 2025

      The Best Oil Stocks to Invest $200 in Right Now

      January 28, 2025

      Top 10 Best Jobs of the Year: High Demand, Six-Figure Salaries, and Bright Futures

      January 23, 2025
    • Entrepreneur News

      Walgreens Store Closures: Full List of Locations Shutting Down This Month

      June 4, 2025

      Walmart Addresses Trump’s Demand to Cover Tariff Costs

      May 25, 2025

      Walgreens Expands Use of Prescription-Filling Robots to Reduce Costs and Support Pharmacists During Turnaround

      May 15, 2025

      Hooters Declares Bankruptcy

      April 8, 2025

      Costco to Open 6 New U.S. Stores Next Month and Another in April—See the Locations and Dates

      February 28, 2025
    • Financial Wellness

      Smart and Risky Spots To Store Your Cash, Coins, Crypto, and More

      April 24, 2025

      The Minimum Salary Needed to Be in the Upper-Middle Class in 2025

      March 21, 2025

      Should You Buy, Sell, or Hold Amazon in 2025?

      March 7, 2025

      From Hawaii to West Virginia: The Shocking 77-Year Gap in Retirement Savings Longevity

      February 24, 2025

      Are the 3 Highest-Paying Dividend Stocks in the Dow Jones Worth Buying?

      February 17, 2025
    • Popular Now

      European Markets Climb as Trump Moves to Cut Tariffs on Auto Parts

      May 1, 2025

      Robinhood Expands Trading to Include Bitcoin, Oil, and Gold Futures 

      January 30, 2025

      Powerball Winning Numbers for January 18: Oregon Player Takes Home $328.5 Million Jackpot

      January 21, 2025

      Morgan Stanley Surpasses Estimates With Robust Equities and Fixed Income Trading Revenue

      January 20, 2025

      10-Year Treasury Yield Edges Lower Amid Anticipation of Economic Data, Fed Remarks

      November 21, 2024
    • Wealth

      America’s 10 Wealthiest Self-Made Women, According to Forbes— #1 May Surprise You

      February 5, 2025

      8 Wealthiest Royals in History

      February 4, 2025

      One Powerful ETF That Grew $10,000 to $55,000 in a Decade: Is It Worth Buying in 2025?

      January 28, 2025

      Coinbase CEO Predicts Bitcoin Could Hit Multi-Million Dollar Value

      January 24, 2025

      Dogecoin Surged After Elon Musk’s Appointment: What’s Happening With This Popular Meme Coin?

      November 18, 2024
    NinepenniesNinepennies
    Home » Unemployment Rates Among White, Hispanic, and Black Women Rises in June, Unlike a Drop Among Men of the Same Race 
    Entrepreneur News

    Unemployment Rates Among White, Hispanic, and Black Women Rises in June, Unlike a Drop Among Men of the Same Race 

    DunniBy DunniJuly 30, 20246 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    New York State Department of Labor building
    Source: Thomson200/Wikimedia Commons
    Share
    Facebook Twitter LinkedIn Pinterest Email

    A stratified analysis of data obtained by the Department of Labor about unemployment rates in June revealed that women across different races were disproportionately more jobless than their male counterparts.   

    Corporate women at a meeting
    Source: businessforward/Flickr

    Yes, unemployment rates increased across the board in June. However, it was more prominent among adult women than men. We shall be looking at a breakdown of the said data. 

    An Official Report on the Employment Situation in the US

    On July 5, the US Bureau of Labor Statistics published an economic news release on the nation’s employment situation. 

    A map showing unemployment in the United States
    Source: PhillyBonkers/Wikimedia Commons

    The publication revealed instances of employment upticks in some specific sectors of the US economy. However, this employment gain paled compared to the significant year-on-year increase in the unemployment rate. 

    General Unemployment Rates Can Be Misleading 

    Overall, the general unemployment rate increased to 4.1% from 3.6% in June 2023. In numbers, this means that the number of unemployed Americans saw a year-on-year increase from 6.0 million to 6.8 million. 

    Standing in front of an office building
    Source: PxHere

     

    In accordance with the general trend, white women recorded a rise in the unemployment rate from 3.0% to 3.1%. Likewise, Hispanic and Black women had a more significant increase in unemployment rates, from 4.1% to 4.5% and 5.2% to 5.7%, respectively. 

    Zooming In On Specific Unemployment Metrics 

    On the contrary, adult men experienced a drop in unemployment rates in June. The Department of Labor report found that the unemployment rate among white, Hispanic, and Black men dropped significantly. 

    Construction Workers Wearing Hardhats
    Source: Mikael Blomkvist/Pexels

           

    Their jobless rates fell from 3.4% to 3.2%, 4.7% to 4.2%, and 6.4% to 6.1% for the three races of adult males, respectively. Despite the highest drop in unemployment rates, joblessness remains highest among Black men. 

    ALSO READ: Like Nixon, Donald Trump Wants To Impose A 10% Tariff; Here Is The Outcome Of Nixon’s Attempt.

    Men Gain Against Women in the Realm of Employment  

    After looking at the unemployment data, Elise Gould, a senior economist at the Economic Policy Institute, had something to say about its implication across gender lines. 

    Commuters arrive at Grand Central Station
    Source: Jessica Valenti/Medium

    “We’ve seen a lot of gains for women in this pandemic, in this recovery — a lot of notable highs that they’ve experienced. They hit historic all-time highs in terms of their employment in the labor market. But we did see some softening among women in June, and that was accompanied by this rise for men,” said Gould. 

    Could It Be that Men Are Ursuping Women’s Jobs? 

    A trend with which Gould, however, feels uncomfortable is the strangeness of how the rise in female unemployment coincided with the increase in male engagement in the social assistance and healthcare sectors. 

    A male nurse attends a patient at the emergency room
    Source: World Bank Photo Collection/Flickr

    On the surface, it is easy not to interpret that coincidence as meaningful. However, it could indicate that men are taking up more quotas in job spaces that were previously dominated by women. 

    New Recruitments in June Exceeded Expectations 

    Dow Jones had previously predicted an increase in nonfarm payrolls by 200,000, but the June figures were better, as the Department of Labor reported a 206,000 increase. 

    Jerome H. Powell, governor of the Federal Reserve Board, and Donald Kohn
    Source: Dan Brickley/Flickr

    However, no one anticipated the general climb in unemployment rates to 4.1%. The last time those rates were that high was in 2021. So, analysts are eager to see the Federal Reserve’s next course of action. Fed officials’ existing string of financial policies is based on the estimation that unemployment rates would hold firm at 4%.

    All Eyes On the Federal Reserve   

    Jan Hatzius, the chief economist at Goldman Sachs, projects that the Federal Reserve will soon make major changes. 

    The Marriner S. Eccles Federal Reserve Board Building
    Source: AgnosticPreachersKid/Wikimedia Commons

    Hatzius said, “It’s a soft landing kind of report. This does support the idea that [the Fed] will cut relatively soon, and we continue to think September is the most likely.” 

    Job Gains in June Did Not Help Overall Unemployment 

    The creation of new jobs in June exceeded expectations thanks to just a handful of industries. Government jobs, health care, social assistance, and construction were regular suspects, with 70,000, 49,000, 34,000, and 27,000, respectively. 

    Men in High-Visibility Clothing on an Asphalt Paver
    Source: Tom Shamberger/Pexels

    In light of the employment rates report, major ripples are becoming noticeable across the US economy. For example, the stock market experienced an uptick, while Treasury yields went into the reds. 

    Race Still a Notable Denominator in the Recruitment Process 

    The global head of marketing at TradeStation, David Russell, said “The job market is bending without yet breaking, which boosts the argument for rate cuts. Things are not too hot and not too cold.”

    Women of different skin tones and race
    Source: Chiuin Hair Talk/Medium

    According to the report, the unemployment rate among Black workers (male and female) jumped to a record high of 6.3%, its highest since March. That of Asians increased to 4.1%, their highest unemployment rate since 2021.

    ALSO READ: Mark Zuckerberg’s Net Worth Significantly Increases By Making About $9.6 Million Per Hour In 2023. 

    Feds May Cut Interest Rates, but Probably Not Now

    There are strong indications that the Federal Reserve may modify its monetary policies. According to the minutes of a meeting by Fed officials earlier in the month, more significant progress in inflation must ensue before considering cutting interest rates. 

    A couple with two kids ins
    Source: MarketWatch/X

    According to Robert Frick, corporate economist at Navy Federal Credit Union, “There are no cracks here that would cause the Fed to rush to the rescue with rate cuts, and the labor market is in line with a continuation of slowing inflation.”

    The Economy Is Growing at a Snail’s Pace

    On the contrary, there have been recent signs of minor cracks in the Labor market. This supposition is a product of surveys that show a potential reduction in service and manufacturing recruitments. 

    Snail hurling a stack of coins
    Source: Nakashi Takamura/X

    Similarly, economic growth is assuming a slower momentum, with gross domestic product going from a miserly 1.4% in Q1 to 1.5% in Q2, as reported by Atlanta Fed. 

    You Might Also Like:

    Mortgage Payments in Alaska Increases by More Than 50%

    How Fintech’s False Promises of Convenience Led to Thousands of Americans Losing Access to Their Bank Accounts

    U.S. Toy Company, Basic Fun!, Goes Bankrupt with $50M Debt

    One of the Largest Solar Companies in the US Is on the Cusp of Collapse

    Top 10 U.S. States Where a Single Individual Can Live Comfortably on $20 an Hour

    Black women hispanic Unemployment unemployment rate
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleMortgage Payments in Alaska Increases by More Than 50%
    Next Article Costco Announces First Membership Fee Increase Since 2017

    Related Posts

    Entrepreneur News

    Walgreens Store Closures: Full List of Locations Shutting Down This Month

    June 4, 2025
    Entrepreneur News

    Walmart Addresses Trump’s Demand to Cover Tariff Costs

    May 25, 2025
    Entrepreneur News

    Walgreens Expands Use of Prescription-Filling Robots to Reduce Costs and Support Pharmacists During Turnaround

    May 15, 2025
    Add A Comment

    Comments are closed.

    Top Posts

    How to Delete Credit Karma Account: Step-by-Step Guide

    October 14, 2024

    Home Depot Penny Items: How To Find Them

    October 17, 2024

    Introducing the 2025 Caterpillar Pickup Truck for the U.S. Market

    September 5, 2024
    Stay In Touch
    • Twitter
    • Instagram
    You Might Like

    Subscribe to Updates

    Get the latest tech news from FooBar about tech, design and biz.

    Most Popular

    How to Delete Credit Karma Account: Step-by-Step Guide

    October 14, 2024

    Home Depot Penny Items: How To Find Them

    October 17, 2024

    Introducing the 2025 Caterpillar Pickup Truck for the U.S. Market

    September 5, 2024
    Our Picks

    Walgreens Store Closures: Full List of Locations Shutting Down This Month

    June 4, 2025

    Expert Predicts Summer 2025 Travel Deals: 5 Budget-Friendly Destinations to Book Now

    May 28, 2025

    Walmart Addresses Trump’s Demand to Cover Tariff Costs

    May 25, 2025
    X (Twitter) Instagram
    • Home
    • Editor’s Picks
    • About Us
    • Get In Touch
    • Privacy Policy
    • Terms of Use
    • Editorial Standards
    © 2025 Ninepennies.

    Type above and press Enter to search. Press Esc to cancel.