The Jobs report for July will be released Friday. The economy turned a bit more negative in July. We expect 100,000 jobs, the unemployment rate to remain the same at 8.2% and the black unemployment to increase.
For the week of June 4, 2012 a summary of key indicators shows that the economy is weakening. The pace of the weaknesses very slow, but it is rather broad. The question is whether it is temporary.
Inequality for blacks and Latinos has worsened over time. Whether measured by wealth, income or jobs, the picture is dismal. Blacks and Latinos make up 27% of the workforce and 40% of all unemployed workers.
The unemployment rate declined from 8.3% to 8.2% but only ½ as many jobs (120,000) were created in March as in previous months.
