June 24, 2018

'Congressional Black Caucus Took a Knee Nearly All Night'

03 February 2018, 01:50 | Lionel James

'Congressional Black Caucus Took a Knee Nearly All Night'

Trump can't cite his favorite stat about black unemployment being the “lowest ever” anymore

When Trump made eloquent appeals on behalf of the men and women who serve this country in arms; when he praised his newly appointed Veterans Administration chief for firing VA officials who did not have the love for these American heroes that the American people do, the TV camera panned on Republicans rising to their feet and applauding and then to the Democrats reclining listlessly in their chairs and consulting their cell phones. They sat there stone cold, no smile, no applause. You would have thought that on that one they would have sort of at least clapped a little bit.

There were just two problems with that indictment of the Democratic Party.

Much of the racial wealth disparity in this country can be attributed to home ownership, which accounts for two-thirds of the wealth of most USA households, according to the Economic Policy Institute.

According to the Bureau of Labor Statistics, the black unemployment rate rose nearly a full percentage point from last month. Hispanic unemployment is also higher than white unemployment - at 5 percent.

But President Trump didn't do anything to improve unemployment specifically for Black people in America, and taking credit for it is outrageous.

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It's correct that the black unemployment rate recently reached its lowest level in decades, but it has been steadily declining for about the last seven years. That rate is the highest it has been since April of previous year, when the overall unemployment rate was 4.3 percent.

"For the 12 months, we are still at a historic low in the African-American unemployment number", Trump's chief economic adviser Gary Cohn said on Fox Business Network on Friday.

Richmond said that the CBC can now answer the question that Trump posed to the Black community in 2016, "with 100 percent certainty". You can see on the graph since 2010 above that the unemployment rate for all groups tends to fluctuate a lot. While the jump is notable, demographic unemployment rates can be subject to volatility since they are based on survey data. These numbers can change quickly, and if you take credit for every shift in a positive direction, you could justifiably face criticism for shifts in the other direction.

Other notable jobs report statistics? The country added 200,000 jobs, extending an unprecedentedly long run of monthly job creation. And, of course, the overall unemployment rate also sees volatility.

That time, though, Trump was wrong about the statistics surrounding the youth unemployment rate. She also arrived for the occasion separately from Trump, but they reportedly road back to the White House in the same vehicle.

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