US economy

Wage Growth Surges Among Non-Whites in Tight U.S. Labor Market

Wage Growth Surges Among Non-Whites in Tight U.S. Labor Market

(Bloomberg) — As unemployment hit a five-decade low last month, jobless rates among black Americans also held at a record low, according to Bureau of Labor Statistics data.

The jobless rate among black Americans fell to 5.5% in August and held that rate in September. Unemployment among black Americans is still 57% higher than national unemployment, which fell to 3.5%. The unemployment rates for Asian and Hispanic Americans also keep falling.

A tight labor market has also resulted in higher wages, especially for non-white Americans. Newly released data from the Atlanta Federal Reserve shows that non-white incomes are up more than a full percentage point from a year earlier and are now increasing at the fastest pace in a decade.

The spread in wage growth between non-whites and whites rose to a record last month, according to the Atlanta Fed data.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

READ  Economists Don’t See Any U.S. Growth Bump From U.S.-China Deal


Leave a Reply