ObamaNomics: Black Teen Unemployment at 39.4%
Heading into his second term, President Obama will have to start taking responsibility for his economic record. The recession officially ended just a few months into his first term and he has ushered through a host of policies he said would help the economy. For most Americans, the economy has been, at best, anemic. For one group, however, black teens, Obama's policies have been a disaster.
This morning's jobs report provided a mixed bag on the overall economy. BLS reported that just 146,000 jobs were added which, when combined with people who had left the labor force, edged the overall jobless rate lower to 7.7%. For black teens, however, the unemployment rate is a shocking 39.4%.
When Obama took office, in the throws of the recession, the black teen unemployment rate stood at just above 36%. Over 500,000 black teens had jobs. Today, almost four years later, just 430,000 have jobs. Thousands of black teens have simply left the work-force.
Black millennials, those aged 18-29, fare better, but still face an 18.5% unemployment rate. Interestingly, Romney did better among black millennials than other African-American age groups, although at 8% support, it isn't anything to crow about.
ObamaNomics is coming into sharper relief now. Next year, as the build-up to ObamaCare commences, companies will start trimming or cutting back on those "first" jobs in hospitality and services that provide teens with their entry into the labor force. Worse, they will find themselves competing with workers with more experience in a much tighter labor market. Teens across the board will suffer. Unfortunately, black teens will likely suffer the most.
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