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Unemployment Numbers Don’t Lie - 11/6/15

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Happy Monday! In this new-week new-world edition we are highlighting two important topics: race and employment.

Last Friday unemployment numbers were released and Non-Farm payroll increased by 271,000 jobs in October. Overall unemployment dropped to 5%, which suggests that more companies are hiring. But there is a large gap in the unemployment stats between Whites and African Americans (see stats below):

Unemployment Numbers as of October 2015

Age 20+

Black Male 8.8%

Black Female 8.4%

White Female 3.9%

White Male 3.8%

Age 16-19 

Black Female & Male 23.6%

White Female & Male 13.6%

Why does this matter?

Unemployment is one of the top indicators for the health of the American economy. Generally speaking, for any country to perform well economically a large number of the country’s population has to be employed by companies that are presenting employment growth opportunities. So with that being said, last week's government report is partially good news. However, as you can see from the unemployment stats above there is still a large employment disparity in the states.

What does this mean for America?

Despite the shocking fact of unemployment gaps among races, this data clearly depicts the problem of income inequality that America is facing. It may not be 2008 economically, however this information highlights the fact that the U.S. economy is still struggling to get a much needed social and economical balance among other things. The facts are in front of us all, it is left to us to make a constructive change. Without a nation wide implementation strategy for social and economic justice, our country can slip back into an unforgiving past.
At the time of this commentary Michael Ojo, his family and/or clients of Golden Door Asset Management held no positions in the companies mentioned above — although positions can change at any time.
Michael Ojo is the Managing Director of Golden Door Asset Management, LLC,a registered investment advisor specializing in individual and high net worth individual private wealth management. For more information on investing with Golden Door Asset Management, LLC please visit our website, www.goldendoorasset.com. Golden Door Asset Management, LLC is a New Jersey LLC, with its principal office located in Princeton, NJ.
Michael Ojo is also the publisher of CareStocks, a newsletter focusing in on healthcare services, medical equipment, technology and real estate stocks. More information to the newsletter can be found at www.carestocks.com.
© 2015 Golden Door Asset Management, LLC. All rights reserved.
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