Robert LaPlante: Ann Saphir / Reuters
The unemployment rate among the black population of the United States in may fell to 16.8 percent, and the systematic racism and high unemployment among blacks and Hispanics lead to a slowdown in the US economy. This was stated by the head of the Federal reserve Bank (FRB) of Dallas Robert Caplan in his interview to TV channel CBS.
He also noted that the unemployment rate in the US by the end of 2020 will remain high, despite a gradual employment growth. “We are now on the way down,” he said. According to Kaplan, the country will
positive growth in the number of jobs in June and July, however, even with this growth will be high unemployment.
According to his forecasts, by the end of the year it will be 8 percent. The unemployment rate jumped from a 50-year average 3.5 percent in February to 14.7 percent in April. In early June it was reported that this indicator was at the level of 13.3 percent, while analysts expected a higher performance. The downturn in the US economy was caused by the restrictive measures imposed to curb the spread of the novel coronavirus.
Previously, the authors of the study, conducted by Bloomberg Economics, came to the conclusion that the current high level of unemployment in the US may persist for a long time and in some sense become “eternal”. The reason they are called “shock redistribution” — a phenomenon in which in some sectors new jobs, while, in others their number is reduced. The problem lies in the fact that new places are created slower than the old shrink.
Video, photo All from Russia.