Well if we consider the political economist data analysis on unemployment rates, this looks pretty darn good for President Obama, the unemployment rate for this quarter is now at a low of 5.5% according to the Bureau of Labor Statistics and the economy is growing gradually at 3%. We should all be whooping and ecstatic about this unemployment stat shouldn’t we? The answer is yes if you are any race other than African-American (AA). While the national unemployment rate hasn’t been this low since 2007 (5%), the African-Americans are exclusively left behind. African-Americans unemployment rate drop down to only 1% at 10.4% and largely can be attributed to African-American women exclusively being at 8.9% while the men are at 10.4%. Whites americans are at 4.7% and Asians at a staggering low of 4%. If the national unemployment rate was at 10.4% that would be considered catastrophe, “Great Depression” would occur, so do you get my drift?
In 1963 the Equals Pay Act was ratified, it was a victory for the civil rights movement along with the feminist movement. In this day in age feminist has something to whoop about, they can declare victory over socioeconomic inequality challenges, especially white women, they beat their white male counterparts at an unemployment rate of 4.2%, that’s two times lower than the (AA) women rate black feminist.
Due to the booming market, the Federal Reserves are projected to raise interest rates in June of this year, hence breaking their pledge on keeping interest rates near zero for some considerable time. Currently the Federal Reserves has a balance of $4.4 trillion. Ray Dalio, a well respected bussinessman who’s worth 15.2 billion and founder of the $165 billion investment firm Bridgewater Associates stated this will crash the economy market similar to what happen in 1937 of the great depression. By the end of this year it is forecast that the interest rate will go up to 1-1.25%, 2016 (2.85%) and by 2017 (3.75%). Right now inflation is negative, which is good for the economy, imports are at an astonishing low of -9.4%, fuel imports alone in January this year was at -19%. Meaning inflation is below zero, that’s good for the economy, but if interest rates are raised we are potentially looking at a domino effect that will inadvertently affect employment rates. The reason is because employers return investment will lower which in turn will raise up the price index on goods . This will make international traders more reserve to play in the economy which will trickle down to rigorous budget cost by manufacturers, then staffing cuts, leading to higher unemployment rates once again.