Black unemployment rate hits all-time low of 5.5%

Black unemployment fell to a record low in August, helped by a jump in the number of black women on the job.

The unemployment rate for black workers fell to 5.5% from 6%, according to the Labor Department data. The previous record low of 5.9% was set in May 2018.

The unemployment rate for black women fell to a record 4.4% from 5.2% in July. The unemployment rate for black men crept up to 5.9% from 5.8%. But the previous month’s rate was a record, so the rate is still near its historic low.

Unemployment among workers who identify themselves as Hispanic or Latino also fell in August to 4.2%, which matched a record low set earlier this year.

Minority unemployment has been tracked by the Labor Department since the early 1970s. Both black and Hispanic or Latino unemployment numbers have traditionally been higher than white unemployment, and it remains so today. White unemployment was 3.4% in August, up from 3.3% previously.

Overall the US unemployment rate stood at 3.7%, unchanged from the previous month.