Multicultural Job Growth Slows Down

It is not surprising that the employed population is currently more Multicultural than ever before at 35% of up from 28% in 2012, according to SSG’s analyses of the Bureau of Labor Statistics latest job data. What is surprising is that White Non-Hispanics showed a marked turnaround from five years of consistent trends when Hispanic, African American, and Asian generated around two thirds of all job growth but only 54% of all new jobs created in 2017.

Leading Multicultural Economy Indicators Series

It is not surprising that the employed population is currently more Multicultural than ever before at 35% of up from 28% in 2012, according to SSG’s analyses of the Bureau of Labor Statistics latest job data. What is surprising is that White Non-Hispanics showed a marked turnaround from five years of consistent trends when Hispanic, African American, and Asian generated around two thirds of all job growth but only 54% of all new jobs created in 2017. It appears the current economy is working stronger for White Non-Hispanic than for Multicultural segments.

Employment growth

For Multicultural segments, there has been a slightly decrease in their share of employment growth. In fact, while Hispanic’s share of employment growth usually leads the pack, in the last 8 months of 2017 they have only accounted for 26% of employment growth, down 6 points from the first 8 months of 2016.

The unemployment rate is decreasing nationally for all segments; for instance, it is now 4.5% employment rate compared to a year ago when it was 5.0%. White non-Hispanics are decreasing their unemployed population at a faster rate than other minorities.

[Follow our series on Leading Multicultural Economic Indicators over the next few weeks] 

 

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