The drop in unemployment to 8.3 percent is a very pleasant surprise from what the consensus was going into todayâ€™s numbers.
“For African Americans, there was a very welcome and notable decline in the unemployment rate to 13.6 percent, this after unemployment had risen among African Americans in the previous two months.
“A drop from 15.8 percent down to 13.6 percent among African Americans is significant, recognizing of course that this is still much higher than the overall unemployment situation of Americans.
“Unemployment also fell among Hispanics, down to 10.5 percent from 11.0 percent last month.”
–Linda Barrington, director of the Cornell University ILR School Institute for Compensation Studies
Source: Cornell University