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There was no good news in the Bureau of Labor Statistics (BLS) August jobs report for African Americans. The rates of unemployment for African Americans in many instances rise before the rates of the larger population. They are a good barometer of what is to come as African Americans are the first laid-off as the economy falters. However, the BLS August jobs report according to the talking heads on the various cable channels was a good report overall as the official national unemployment rate fell to 5.1 percent from 5.3 percent in July. The 5.1 percent rate is considered “full employment” by some members of the Federal Open Market Committee (FOMC)of the Federal Reserve Bank (Fed), our central bank.
It is the voting members on the FOMC who determine whether interest rates will increase or decrease. The great debate taking place now among Fed watchers today and in the coming days is whether the Fed through the FOMC will increase interest rates at its September 16th – 17th meeting. Of course an upward increase in interest rates could have a negative impact on job creation; as the cost of money increases, there is a good possibility hiring will slow or even stop, as higher interest rates cut into the profits of businesses.
This is why the numbers in the August job report for African Americans are terribly disturbing. The overall black unemployment rate rose from 9.1 percent in July to 9.5 percent. The unemployment rate for black men increased to 9.2 percent from 8.8 percent; black women saw their rate bump up from 8.0 percent to 8.1 percent and black teenagers, a group that has been under extreme pressure for the last seven years; their jobless rate 
increased from 28.7 percent to 31.3 percent.
Consider this or rather give the following some thought; 2009 was the year the economy emerged from the deepest recession since the 1930s, due to the fallout resulting from the housing crisis. The Great Recession or contraction of the economy began in December 2007 and ended in June 2009, according to the National Bureau of Economic Research. The national unemployment rate peaked at 10.0 percent in October of 2009. And the black unemployment rate peaked two years later in August of 2011 at 16.7 percent. African Americans as a group would not see their rate drop below that 10 percent high for the nation until May of this year, “six years after the national rate peaked.” (It took that long!) Please hear me out because this is important … the current rate of black unemployment, as officially indicated above, has risen to within one-half percent of that 10.0 percent peak reached nationally back in 2009, which was six years ago.
When you consider the black unemployment rate has not been under 10.0 percent for the last seven years until recently, you can profoundly appreciate the overall dismal economic state of the black community. At the end of day, whether a given worker group is gainfully employed matters. This cannot be sloughed off with statements like “there are plenty of jobs, they just don’t want to work” or “they just want to start at the top with the easy jobs.” These numbers are revealing and demonstrate the need for a national job creation plan. Sure there is racism reflected in these numbers, nevertheless the Obama administration, and indeed this country must face the fact that this economy is not producing enough good jobs to put black people back to work, no matter what the talking heads say on television. African Americans are dealing with some very tough and difficult economic realities as you can see.
We have got to have idiots for black leaders who see this unemployment report for August and are aware the Fed is considering raising interest rates and are saying nothing on the behalf of African Americans who are facing the highest unemployment rate reached during the Great Recession. You see, those who are familiar with these numbers know that the official numbers should be 2 to 5 percent higher. Therefore, in reality the black unemployment rate when measured at the lower end of that scale is really 11.5 percent! The Federal Reserve Chairwoman, Janet Yellen, is dismissive of blacks and their problems with unemployment.
Here is what the Federal Reserve Chairwoman said recently about black unemployment before the House Financial Services Committee’s semiannual hearing on Federal Reserve policy; “So, there really isn’t anything directly the Federal Reserve can do to affect the structure of unemployment across groups…,” And unfortunately, it’s long been the case that African-American unemployment rates tend to be higher than those on average in the nation as a whole.”
I can only repeat what I said in my last piece. I just don’t know how to put it to you any differently to give you a sense of what is going on. Look, how can another economic downturn be good for the black race in America when you have not recovered from the last one! When are you, individually, as African Americans going to address the issue of our wretched economic situation? When are you, as individuals, going to become as savvy as whites on this issue? When will you as a people, dissolve the political bands which connect you to do-nothing leadership and demand some accountability?
Whites have shown their displeasure and dissatisfaction by rejecting establishment leadership. However, you as African Americans continue to sustain the platforms of leaders who are leading you to nowhere. Can’t you see seven years of unrelenting high unemployment, and high rates of black on black crime in your communities are the result of this irresponsible investment in do-nothing leaders? These high unemployment numbers are not good for African American communities. Any fool can see that!
For ten dollars,,,that’s right…just ten dollars, you can univocally put the issue of a fiscal solution to job creation before this nation for consideration from the convenience of your computer or phone. You can cause this nation to consider your employment needs by changing course. This can be done right now! We can reduce black on black crime and put our youngsters back to work, if you will and want change. It is unfortunate but this is where we are as a people! “The Fix This Time” at Amazon.com is the pathway to a solution to job creation and this coming economic downturn. It is long pass time for you to get B-U-S-Y when it comes to this issue!
Staff Writer; James Davis
This talented brother is a graduate of Florida A. and M. University(FAMU), a former stockbroker, and a human rights activist who resides in Sanford, Florida. He was awarded the prestigious Governor Haydon Burns Scholarship to attend FAMU and while at FAMU was awarded the first Martin Luther King Scholarship. He is also author of three books, among them are “The Fix This Time,” Expanding Social Security Benefits to Create Jobs and Spur Demand( http://www.amazon.com/dp/B00MI3PD2M ) and “Hey…God’s Talking To You,” The Study Book ( http://www.amazon.com/dp/B00GYI3VQW ).
He can be reached through his blog @, (http://www.thefixthistime.com).
