According to USA Today, the unemployment rate for June 2023 was 3.6 percent, down from 3.7 percent in May. However, according to the Bureau of Labor Statistics (BLS), the workforce participation rate remained unchanged at 62.6. The percentage of Americans in the workforce or looking for jobs has not changed since March. That is not an indication of a growing economy.
USA Today reports:
Still, that’s the weakest showing since employers shed jobs in December 2020.
The unemployment rate fell from 3.7% to 3.6%, the Labor Department said Friday.
Economists had estimated that 225,000 jobs were added last month.
Payroll gains for April and May were revised down by a total of 110,000, depicting somewhat weaker hiring in the spring than believed. The May rise in jobs was downgraded to 306,000 from 339,000.
On Saturday, Breitbart reported:
During an interview on Bloomberg on Friday, White House Council of Economic Advisers Chair Jared Bernstein stated that the increase in the black unemployment rate “was statistically insignificant in June,” but the increase in black unemployment in May was statistically significant.
Co-host Romaine Bostic asked, “Well, what about some demographics? Our International Economics Correspondent Michael McKee pointed this out to me, that, when you look at unemployment rates in terms of demographics here, it went down for white men, it went down for white women, but it went up for blacks, it went up for Hispanics, and it went up for those who only have a high school education or less.”
How many minorities who have a high school education or less are being replaced in the labor force by the illegal aliens coming across our southern border? How many companies are hiring illegal aliens and paying them under the table at a much lower rate than Americans would accept? It is possible that this is part of the reason the minorities and people with a high school education or less are having trouble finding work?