Equitable Growth’s Jobs Day Graphs: July 2019 Report Edition
The employment-to-population ratio for prime-age workers is showing signs of plateauing in this phase of the labor market expansion.
With a low unemployment rate of 3.7% for the entire labor force, the rate for African American workers at 6.0% and Hispanic workers at 4.5% remains significantly higher than that of White workers at 3.3%.
Wage growth was a tepid 3.2% year-over-year in July, with no sign that the labor market is overheating despite low unemployment.
While better-educated workers continue to have lower unemployment rates overall, the rates for less-educated workers decreased in July while increasing slightly for those with a Bachelor’s degree or higher.
Recent employment gains in manufacturing have plateaued and remain at much lower levels than in service industries like health and education.