Maintaining the U.S. unemployment rate at its current low level is likely to bri...
FILE PHOTO: Job seekers speak with potential employers at a City of Boston Neighborhood Career Fair on May Day in Boston, Massachusetts, U.S., May 1, 2017. REUTERS/Brian Snyder/File Photo
The current national unemployment rate of 4 percent is below most estimates of full employment, and running that sort of “hot” economy for as long as possible could also narrow the gap in jobless rates between the less educated and those with college degrees, the team found in an exploration of whether periods of particularly low unemployment narrow some of the persistent gaps in unemployment between different groups.
“We read the overall evidence ... as indicating that the employment experience of ... African Americans and Hispanics, as well as that of those with less than a college degree, has improved relatively more compared to whites of the same gender as the labor market has strengthened,” the group concluded in the paper released as part of a Brookings Institution economic research conference this week.
In the years after the 2007-2009 financial crisis, for example, the unemployment rate for whites fell to just below 8 percent by August 2011 but persisted at 16.4 percent for blacks, near its recession-era high. As of November it was around 6 percent for blacks and 3.5 percent for whites.
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