The unemployment rate for Black workers fell in August, according to data released Friday by the Department of Labor.
In August, Black workers saw their jobless rate fall to 6.1% from 6.3% in the month prior. This trend was in line with the overall unemployment rate for the country, which ticked down to 4.2% in August from July.
On the other hand, unemployment for white workers held steady at 3.8%. The jobless rate also rose for Asian and Hispanic workers. For the former, it increased to 4.1% from 3.7%. For the latter, it crept higher to 5.5% from 5.3%.
Black men experienced a big month-to-month drop in unemployment, with their jobless rates falling to 5.9% from 6.6%. On the other hand, the unemployment rate held steady at 5.5% for Black women.
While Hispanic women saw their jobless rate fall to 5% from 5.4%, unemployment rates for their male counterparts climbed to 4.8% from 4.4%. The unemployment rate for white men also ticked higher to 3.6% from 3.5%, while it was unchanged at 3.4% for white women.
Diving into the employment-to-population ratio for female prime-age workers, or those ages 25 to 54, paints a very optimistic view of the labor market, according to Elise Gould, senior economist at the Economic Policy Institute.
“The employment-to-population ratio for women’s prime-age workers remains at a quarter-century high,” she told CNBC. “This remains very strong, even if there is still a little bit of softening in other measures.”
“It makes sense we’ll see some weakness now that we’re approaching full employment,” Gould added.
Last month, the labor force participation rate — the percentage of the population that is either employed or actively seeking work — remained unchanged at 62.7%.
Among white workers, the rate steadied, while it fell to 62.7% from 63.2% for Black workers. Within Asian workers, the participation slipped to 65.4% from 65.7%, and rose among Hispanic workers to 67.8% from 67.3%.
— CNBC’s Gabriel Cortes contributed to this report.
Correction: The unemployment rate for Black women held steady at 5.5%. A previous version misstated the percentage.
