In the post-2020 era, the Labor Force Participation Rates of Hispanic and African American communities increased rapidly, surpassing those of Whites.
The Labor Force Participation Rate of the Hispanic Population increased by approximately 1.1% (in August) compared to its pre-pandemic trend (defined as the average from January 2010 to February 2020). This increase has resulted in 527,681 more employed individuals, considering the estimated 47.9 million Hispanic population. https://fred.stlouisfed.org/series/LNU00000009
The Labor Force Participation Rate of the African American Population has increased by approximately 1.3% (in August) compared with its usual trend. This suggests that around 451,282 more individuals have joined the labor market, considering the African-American population to be about 34.7 million. https://fred.stlouisfed.org/series/LNU00000006
Finally, the Labor Force Participation Rate of the White Population has decreased by approximately 1.5% (in August) compared to its trend. This decrement represents 3,069,675 people who are not a part of the labor market (this number pertains to the white population, which has a total of 204.6 million individuals). https://fred.stlouisfed.org/series/LNU00000003
Remember, diversity isn’t just a buzzword; it’s our strength. Happy Labor Day!
