Black Americans' unemployment rate has jumped to 6.4% in March, largely due to a surge in joblessness among Black women, whose rate climbed to 5.6%. This increase is concerning, as it has been rising since December. The higher unemployment rate among Black workers persists despite an overall decline in the U.S. unemployment rate. Economists caution that continued monitoring of the situation is essential.
Inflation based on the Fed's index rose in January, primarily due to services costs. Goods prices declined. Despite a surprising increase in income, spending decreased. The tight labor market continues, with slight growth in jobless claims. Inflation is gradually easing, but remains elevated, impacting the Fed's interest rate decisions. The timing and extent of rate cuts remain uncertain.
