Amidst widespread fear of an upcoming recession, there was a report from the Fed that there is no recession that is going to happen anytime soon. The latest numbers of jobs also verifies that fact and the employment numbers indicate that the unemployment numbers among blacks is now the least it has ever been in United States of America ever since such figures were being tracked by the government agencies.
On Friday, it was reported by the labor statistics bureau that there was a fall in the black unemployment level to 5.5% for the month of August.
According to some experts, it is being said that the new report shows that the higher wages, participation rate and the lowest record of unemployment ever. They are saying that the president of United States, Donald Trump has continuously been delivering for the Americans all throughout the economy.
The record low was previously at 5.9% which was in the month of May in 2018.
The rate of unemployment for the black women has fallen to 4.4% in the month of August as compared 5.2 % in the month of July. The unemployment rate for black men saw a marginal rise by 0.1 % from the 5.8% to 5.9%, however the rate of the previous month was a record so the rate still remains near the historic low.
The unemployment among the workers who have identified themselves as Latino or the Hispanic have also fallen to 4.2 % in the month August which has matched the record low which was set earlier in the year.
The president put on Twitter on this news that the Economy is doing great, the only thing which adds to the uncertainty is Fake news which is being spread.
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