3 Reasons to Pause Before Celebrating Today ’s Surprising Jobs Numbers

On first glance, today’s U.S. jobs report seems like a much-needed dose of good news when more or less everything else is aflame: Unemployment fell from 14.7% to 13.3% in May as the economy gained 2.5 million jobs; economists had expected the rate to increase to as much as 20%.
Any drop in unemployment is, of course, a welcome development. But there are at least three big reasons why we should take pause before cracking out the champagne over Friday’s jobs numbers.
First, and most saliently given the ongoing protests over justice and equality, this rebound isn’t being felt equally across demographic groups. While the overall unemployment rate is falling, it’s still rising for some groups, including black Americans. While unemployment for white Americans dropped from 14.2% in April to 12.4% in May, the rate for black Americans increased slightly, from 16.7% to 16.8%:

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Source: TIME: Health - June 5, 2020 Category: Consumer Health News Authors: Alex Fitzpatrick Tags: Uncategorized COVID-19 UnitedWeRise20Disaster Source Type: news