October 2023 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 October Jobs Day analysis is below.

In October, the unemployment rate for Black workers increased slightly to 5.8 percent.

At 6 percent, the unemployment rate for Black women increased in October for the third consecutive month, while the rate for Black men decreased to 5.6 percent.

The total number of Black workers decreased by 15,000 in October, nearly erasing the gains from September.

At 13.1 percent, the unemployment rate for young Black workers slightly increased and remains elevated compared to their non-Black colleagues.

The uptick in Black unemployment is concerning, as Black households reporting a loss of employment income in the last four weeks was 16 percent compared with 8 percent of white households.

The safety net is unreliable for Black workers experiencing unemployment, as 56 percent who applied for unemployment insurance benefits since June did not receive them, compared with 42 percent of their white counterparts.

Black families, at 20 percent, reported not having enough to eat in the past week compared with 9 percent of white families.

The Federal Reserve maintained the key federal funds rate, indicating that the economy is slowing down. Policymakers must ensure that Black workers have full access to work supports and remove structural barriers preventing full employment.

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