Economy Offering "Tremendous" Opportunities To Minorities
May 11, 1998
Unemployment is down and rates of pay are increasing significantly for minorities, according to the latest Labor Department statistics.
- Among blacks, the unemployment rate fell to 8.9 percent last month -- from 9.2 percent in March and 9.9 percent a year ago.
- Average hourly earnings for blacks grew 4.8 percent in the past year -- compared with 4.4 percent for the entire U.S. workforce.
- The jobless rate for Hispanics was at a record low 6.5 percent in April -- down from 6.9 percent the previous month and 8 percent in April 1997.
- The jobless rate for whites was 3.6 percent in April -- compared to 4.1 percent in March.
Overall, the nation's unemployment rate for all workers was 4.3 percent in April, declining from 4.7 percent the month before -- the lowest rate since February 1970.
An official of an on-line job bank for minorities characterized current growth rates and opportunities as "tremendous" and the job market "great."
Source: Beth Belton, "Minorities Gain as Economy Booms," USA Today, May 11, 1998.
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