March 2024 Jobs Day Analysis

The Joint Center analyzes the employment numbers from the Bureau of Labor Statistics and showcases how the numbers impact Black workers. Our March Jobs Day analysis is below.

In March, Black workers’ labor force participation rate fell slightly to 63.6 percent, but employment sharply declined. From February to March, the total number of Black workers employed decreased by 204,000, and the Black unemployment rate increased from 5.6 percent to 6.4 percent.

The unemployment rate for Black women increased to 5.9 percent in March. The rate for Black men increased to 7 percent this month, the highest rate since January 2022.

The unemployment rate for young Black workers increased to 13.6 percent while the rate for all young workers fell to 8.6 percent.

Black workers are not experiencing the strong labor market, and household expenses are becoming burdensome. In Census Pulse Survey data collected from early February to early March, 34.9 percent of Black households reported having either a somewhat or very difficult time paying for basic household expenses.

Black families also report trouble getting enough food — 14.7 percent report not having enough to eat in the past week, compared with 6.5 percent of white households.

Black renters are experiencing economic instability, as 19.1 percent reported being behind on rent, compared to 11.3 percent of renters nationwide.

This week, the Federal Reserve announced that it may cut interest rates later this year as it monitors persistently high inflation rates. As we enter the second quarter, policymakers must ensure that Black workers are included in the strong labor market and reverse the trend of rising unemployment.

Follow the Joint Center on X for monthly Jobs Day updates.