Unemployment rate sinks for Black, Hispanic workers, steady for Asians
The unemployment rate slipped for Black and Hispanic workers in April, but remained stable for Asian American workers.
The U.S. unemployment rate inched down to 3.4% last month, according to the U.S. Bureau of Labor Statistics. The number not only marked a decrease from 3.5% in March, but it also tied for the lowest rate since 1969.
Unemployment dipped sharply for Black workers, declining to 4.7% in April from 5% in the previous month. Similarly, the unemployment rate among Hispanic workers declined to 4.4% last month from 4.6%.
For Asian American workers, the unemployment rate held steady at 2.8%, as it was in March.
"Unemployment rates remain low across the board and historically low for Black workers," said Valerie Wilson, director of the Economic Policy Institute's program on race, ethnicity and the economy.
With the overall unemployment rate under 4%, the difference in rates between racial demographic groups is also narrowing, she added.
Source: CNBC
