UNEMPLOYMENT SLIDES; AFRICAN-AMERICANS, WOMEN FACE BEST JOB MARKET IN 30 YEARS.Byline: Jeannine Aversa Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Unemployment edged down to 4.2 percent last month, returning to a 29-year low and helping workers who historically have had a harder time finding jobs. African-American unemployment hit a record low, and jobless job·less adj. 1. Having no job. 2. Of or relating to those who have no jobs. n. (used with a pl. verb) Unemployed people considered as a group. Used with the. rates for teen-agers and women fell to the lowest levels in three decades. Despite the drop in unemployment, there was only a tiny increase of 11,000 jobs in the nation's payrolls in May - a sharp slowdown from 343,000 jobs created in the previous month and the weakest showing since a decline in January 1996, the Labor Department The Department of Labor (DOL) administers federal labor laws for the Executive Branch of the federal government. Its mission is "to foster, promote, and develop the welfare of the wage earners of the United States, to improve their working said Friday. Figures show that the economic expansion, the longest in peacetime history, has given the country a low overall unemployment rate while aiding minority groups that traditionally lag behind in economic gains. The rate of unemployed African-Americans fell to 7.5 percent last month, the lowest level since the government began tracking this statistic statistic, n a value or number that describes a series of quantitative observations or measures; a value calculated from a sample. statistic a numerical value calculated from a number of observations in order to summarize them. in 1972 but still far above the 3.7 percent unemployment rate for white Americans The term white American (often used interchangeably with "Caucasian American"[2] and within the United States simply "white"[3]) is an umbrella term that refers to people of European, Middle Eastern, and North African descent residing in the United States. . In April, the African-American unemployment rate was 7.7 percent. The jobless rate for teen-agers, meanwhile, dipped to 12.6 percent while the rate for women fell to 3.6 percent, both 30-year lows. ``Combined with the continued strong overall economic growth, low long-term inflation and continued rising wages, we are widening the circle of opportunity for more Americans,'' President Clinton said. The 4.2 percent jobless rate in May matched March's level. Before that, unemployment last touched 4.2 percent in February 1970. Economists agree that the record length of the expansion, now in its ninth year, and its accompanying tight labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience help spread prosperity to groups that have traditionally had higher unemployment rates than white males. ``Economic prosperity and low unemployment are a boon to those groups who have been faring the worst in the job market,'' said Bill Cheney, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the for John Hancock in Boston. ``When the unemployment rate goes down, employers break old barriers and get more creative in their hiring and training.'' Labor Secretary Alexis Herman said the strong economy, coupled with an increase in the minimum wage and an earned income tax credit The United States federal Earned Income Tax Credit (EITC) is a refundable tax credit that reduces or eliminates the taxes that low-income married working people pay (such as payroll taxes) and also frequently operates as a wage subsidy for low-income workers. , are ``making work more attractive. And as we do that, we have more of a magnet, if you will.'' Some employment gains for women, she said, can be attributed to women moving off welfare and into the work force. CAPTION(S): Chart CHART: UNEMPLOYENT AMONG BLACKS Unemployment fell to the lowest level on record. Dec. 1982: 20.9% May 1999: 7.5% Source: Dept. of Labor Associated Press |
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