In: Economics
What were the unemployment rates for adult women, teenagers, blacks, hispanics, and whites? How did these rates compare with those a month earlier?
Answer-
Bureau of labor statistics reports that since the beginning of the year to the month of October, there has been an average of 0.8% decrease in unemployment translating to a population of 1.2 million. Detailed reflections of work groups indicate disparity with unemployment rate of the whites registering a decrease of 4.8% in the month of October.
The rate of adult men record a decrease of 5.1%, adult women recording 5.4%, teenagers recording 18.6%, blacks 10.9% and Hispanics recording a decrease of 6.8%. in addition, the rate of unemployment for Asians was scaled at 5.0% thus, reflecting a slight change when compared from a year earlier. During the month of October, long term unemployment was little changed scaling at 2.9 million for those who were jobless for a period of 27 weeks. This translates to 32% of the unemployment population. There was an overall decrease recorded for the last 12 months of the longterm unemployment of 1.1 million people. On the other hand, the number of people employed on part time basis for economic reasons was unchanged in the month of October scaling at 7.0 million.