No, despite ‘break even’ as the new definition of ‘good,’ and the overall stagnation of the economy, this is a good report…
Total nonfarm payroll employment increased by 236,000 in February, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor
Statistics reported today. Employment increased in professional and business services, construction, and health care.
…if you’re a white guy.
Among the major worker groups, the unemployment rate for whites (6.8 percent) declined in February while the rates for adult men (7.1 percent), adult women (7.0 percent), teenagers (25.1 percent), blacks (13.8 percent), and Hispanics (9.6 percent) showed little or no change. The jobless rate for Asians was 6.1 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)
If you’re not, well. I’d offer my sympathies, but I’m a white guy: you’d probably throw something at me, just in case I was being smug. Or ‘privileged,’ which is a term of art that can apparently change its definition without warning, and at random.
PS: Labor participation rate at 63.5% percent; in layman’s terms, that translates as “the labor participation rate SUCKS.”