Nonfarm payroll expanded by 128,000
General Motors’ strike slowed job growth
By Frederick H. Lowe
The jobless rate for black men 20 and older dropped dramatically in October, the U.S. Bureau of Labor Statistics reported this morning.
The unemployment rate for the black men in this age group was 5.1 percent, sharply down from 6.5% compared with the same month a year ago, BLS reported. Black men’s labor force participation rate was 68 percent in October compared with 68.7 percent for same month a year ago.
Despite the good news, the unemployment rate for black men still is much higher compared with whites (3.2%) and Hispanics ( 3.4%). Asians have the lowest jobless rate of 2.9 percent, but BLS does not break it out between men and women.
The overall unemployment rate for African Africans, including both men and women, was 5.4 percent in October sharply down from 6.3 percent compared to the same month a year earlier. The jobless rate for black women 20 and older was 4.8 percent in October, down from 5.0 percent for the same month last year.
The overall unemployment rate rose slightly to 3.6 percent, and the number of unemployed men and women was 5.9 million.
The Bureau of Labor Statistics reported nonfarm payrolls added 128,000 jobs in October. Job gains occurred in food services and drinking places, individual assistance, and financial services.
However, vehicle motor manufacturing and parts dropped because of the strike at General Motors, which just ended. Financial analysts predicted that GM’s 40-day strike by the United Auto Workers, which ended Friday, would slow job growth. GM announced that it is closing factories in Lordstown, Ohio; Warren, Michigan and near Baltimore.