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Jobless rates rise in June for white, Black and Hispanic women but fall for men in the three racial groups

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Jobseekers attend the JobNewsUSA.com South Florida Job Fair held at the Amerant Bank Arena in Sunrise, Florida, on June 26, 2024.

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The unemployment rate for women in white, Black and Hispanic racial groups rose in June in line with the overall trend, according to data released Friday by the Department of Labor.

In June, white adult women saw their unemployment rate rise to 3.1% from 3.0% the month prior. The jobless rate similarly increased for Black and Hispanic women to 5.7% from 5.2% and 4.5% from 4.1%, respectively.

This trend was in line with the overall unemployment rate, which edged higher to 4.1% from 4.0% last month.

On the other hand, the unemployment rate fell for men in all three racial groups. The rate ticked down to 3.2% from 3.4% for white males, while falling to 4.2% from 4.7% for Hispanic men. Jobless rates also declined to 6.1% from 6.4% for Black men, although the category still has the highest unemployment rates among all the demographic groups.

“We’ve seen a lot of gains for women in this pandemic, in this recovery — a lot of notable highs that they’ve experienced. They hit historic all-time highs in terms of their employment in the labor market. But we did see some softening among women in June, and that was accompanied by this rise for men,” said Elise Gould, a senior economist at the Economic Policy Institute.

However, Gould noted that it’s curious this rise in female unemployment last month corresponded with an influx in jobs in health care and social assistance, which are traditionally not thought of as male-dominated fields.

The unemployment rate for white workers in general stayed steady at 3.5%. This number fell to 4.9% from 5% for Hispanic workers but rose to 6.3% from 6.1% for Black Americans and 4.1% from 3.1% for Asian Americans. The jobless rates for Asian workers separated by gender were not readily available.

Last month, the labor force participation rate — the percentage of the population that is either employed or actively seeking work — ticked higher to 62.6% from 62.5% in May.

Among white workers, the rate steadied, while it fell to 62.7% from 62.9% for Black Americans. This compares with the labor force participation rate for Asian and Hispanic workers, which respectively rose to 65.9% from 65.3% and 67.5% from 67.3%.

— CNBC’s Gabriel Cortes contributed to this report.

Economics

What would Robert F. Kennedy junior mean for American health?

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AS IN MOST marriages of convenience, Donald Trump and Robert F. Kennedy junior make unusual bedfellows. One enjoys junk food, hates exercise and loves oil. The other talks of clean food, getting America moving again and wants to eliminate oils of all sorts (from seed oil to Mr Trump’s beloved “liquid gold”). One has called the covid-19 vaccine a “miracle”, the other is a long-term vaccine sceptic. Yet on November 14th Mr Trump announced that Mr Kennedy was his pick for secretary of health and human services (HHS).

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Economics

What would Robert Kennedy junior mean for American health?

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on

AS IN MOST marriages of convenience, Donald Trump and Robert F. Kennedy junior make unusual bedfellows. One enjoys junk food, hates exercise and loves oil. The other talks of clean food, getting America moving again and wants to eliminate oils of all sorts (from seed oil to Mr Trump’s beloved “liquid gold”). One has called the covid-19 vaccine a “miracle”, the other is a long-term vaccine sceptic. Yet on November 14th Mr Trump announced that Mr Kennedy was his pick for secretary of health and human services (HHS).

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Economics

UK economy ekes out 0.1% growth, below expectations

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Bank of England in the City of London on 6th November 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. The City of London is widely referred to simply as the City is also colloquially known as the Square Mile. (photo by Mike Kemp/In Pictures via Getty Images)

Mike Kemp | In Pictures | Getty Images

The U.K. economy expanded by 0.1% in the third quarter of the year, the Office for National Statistics said Friday.

That was below the expectations of economists polled by Reuters who forecast 0.2% gross domestic product growth on the previous three months of the year.

It comes after inflation in the U.K. fell sharply to 1.7% in September, dipping below the Bank of England’s 2% target for the first time since April 2021. The fall in inflation helped pave the way for the central bank to cut rates by 25 basis points on Nov. 7, bringing its key rate to 4.75%.

The Bank of England said last week it expects the Labour Government’s tax-raising budget to boost GDP by 0.75 percentage points in a year’s time. Policymakers also noted that the government’s fiscal plan had led to an increase in their inflation forecasts.

The outcome of the recent U.S. election has fostered much uncertainty about the global economic impact of another term from President-elect Donald Trump. While Trump’s proposed tariffs are expected to be widely inflationary and hit the European economy hard, some analysts have said such measures could provide opportunities for the British economy.

Bank of England Governor Andrew Bailey gave little away last week on the bank’s views of Trump’s tariff agenda, but he did reference risks around global fragmentation.

“Let’s wait and see where things get to. I’m not going to prejudge what might happen, what might not happen,” he told reporters during a press briefing.

This is a breaking news story. Please refresh for updates.

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