Unemployment Worse

It’s always good news when employers add jobs, 175,000 workers in May up from 149,000 in April. But when you consider that most of those jobs pay poorly, and that some Americans have been left behind, then maybe the news is not as good as it seems.

The May numbers include job losers, principally young job seekers, especially those who are black or Latino. Black adults ages 16 to 24 had an unemployment rate of 28.2% in May, up from 24.9% in April. And for Latinos in the same age group, the rate sits at 16.6%, with no improvement since April. In fact, the unemployment rate for all young men ages 16 to 24 in May was 18%, up from 17.1% in April.