Return of Democrat economy leaves blacks and minorities hurting

 Epoch Times:

Friday’s non-farm payrolls report—a barometer of America’s labor market health—not only reflected below-expectations job growth in August but also showed unemployment rising for black workers, teenagers, and those with some college or an associate degree.

The Labor Department’s jobs report, released Sept. 3, showed that non-farm payroll employment rose by 235,000 in August, down from an upwardly revised 1.05 million jobs added in July and far below the FactSet-provided consensus forecasts of 750,000.

“With a big shortfall in jobs creation or recovery in August, it appears the Delta variant has infected the U.S. economy. Payrolls growth came in well below expectations and at the lowest level since January,” Bankrate senior economic analyst Mark Hamrick said in an emailed statement to The Epoch Times.

The overall unemployment rate fell to 5.2 percent in August from 5.4 percent in July, while the total number of unemployed people edged down to 8.4 million.

“This latest employment snapshot interrupts the process of substantial further progress as called for by the Federal Reserve as it considers dialing back on boosting the economy. The unemployment rate at 5.2 percent still has some way to before matching the 3.5 percent low notched before the pandemic. Even so, it is the lowest level since the pandemic began,” Hamrick added.

Yet the decline in unemployment was not universal across all groups surveyed for the report. From July to August, the unemployment rate rose for blacks (from 8.2 percent to 8.8 percent), teenagers aged 16–19 (from 9.6 percent to 11.2 percent), and those with some college or an associate degree (from 5.0 percent to 5.1 percent), according to the report’s more granular breakdown.

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This is a stark difference from the Trump economy which lifted man blacks out of poverty and joblessness. It is looking like a return to the pre-Trump economy which left many people behind.