Unemployment rates are higher for young people, minorities

August 2024 ยท 1 minute read

NELA RICHARDSON:

Well, you see that doubling of the unemployment rate between blacks and whites at every educational level and it's particularly dramatic when you look at the youth population. There's several reasons, Hari. One, it's the fact that you know, blacks graduate at lower levels than white students do. So we know that college education is a huge factor in determining the level of unemployment, so that employment disparity is a big driver. Secondly, youth and African American youth tend to be employed in sectors that are very business cycle sensitive. So when the general economy is doing bad, that sector gets worse and it's worse for this particular population.

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