The White House just released the latest employment statistics, which show a 0.2 percent decrease in overall unemployment and a whopping 2% drop — from 15.8 to 13.6 percent — in unemployment for blacks. This is the fifth straight month in a row that unemployment has declined for the general population, but the first time in months that the situation has improved for black America.
The data released by the Bureau of Labor Statistics also shows that not only are wages increasing, but speculation that the December increase in employment was due to holiday hiring turned out to be incorrect. In reality, the professional, healthcare, and hospitality/leisure sectors are leading economic growth. President Obama will address the nation today to discuss these numbers and unveil a new plan to put veterans to work restoring and building roads, trails, and levees on public lands across the country.
The ironic part is that this drop in unemployment will add greatly to Barack Obama’s chances for re-election, yet the demographic that should be most impressed by these results — namely blacks — is already likely to vote Obama in 2012. Either way, things are looking up, and that’s always good news!