Photo: Getty Images
The Black unemployment rate declined to a historic low in March.
According to the Bureau of Labor statics job report, the Black unemployment rate hit a record low of 5 percent last month, which is also down from February's 5.7 percent, per The Hill.
The national unemployment landed at a near 50-year low of 3.5 percent.
“Thanks to the policies we have put in place, the recovery is creating good jobs that you can raise a family on, which is pulling more Americans into the labor force,” President Joe Biden said of the report.
Despite hitting a historic low, the Black unemployment rate is still much higher than other demographics with white unemployment at 3.2 percent, Asian unemployment at 2.8 percent, and Hispanic unemployment at 4.6 percent.
However, the report revealed that “the share of Black workers holding a job exceeds the share for white workers holding a job for the first time,” according to William E. Spriggs, professor of economics at Howard University.
“This is a victory. It’s not only that Black unemployment is low. It’s also that, for the first time, a higher share of Black people are working than White people,” Spriggs said in a statement.
Roughly 236,000 jobs were added to the market in March, with the “leisure and hospitality, government, professional and business services, and health care” sectors seeing the most gains.
According to the Washington Post, remote jobs have also opened the door for businesses to hire more Black workers, which may be a contributing factor to unemployment hitting a historic low.
The Black Information Network is your source for Black News! Get the latest news 24/7 on The Black Information Network. Listen now on the iHeartRadio app or click HERE to tune in live.