The most recent jobs report appeared to present a positive impression of our current employment situation. As the New York Times headline read, “Jobs Roar Back With Gain of 287,000 in June, Easing Worry.”
Of course whether it eased your worry or not largely depended on whether or not you’re a young African American man. For black male teens (aged 16-19 years), the jobless rate dramatically spiked to 40.1 percent in June from 28.1 percent in May.
As Mark J. Perry notes, “Except for a slightly higher increase of 12.2 percentage points during the aftermath of the Great Recession, the 12 percentage point increase in June was the highest monthly increase in history going back to 1972 when the BLS starting keeping records for this series.”
What could have caused the spike in unemployment? Perry suggests that it might be because of the “midyear burst of minimum-wage increases” that began on July 1. On that day 14 U.S. cities, states and counties, plus the District of Columbia, raised their minimum wage.