Hello, everyone!
Despite Asian Americans having the lowest unemployment rate in the U.S., last recorded to be 3.1% in April, there are disparities in labor market statistics for joblessness.
According to the Bureau of Labor Statistics, “the median duration of unemployment for Asian Americans was 21.9 weeks in 2021 — the longest period of any racial or ethnic group tracked by the BLS. Asian men in particular saw a median period of joblessness of 26.1 weeks.”
The longer an individual is unemployed, the harder it is for that person to re-enter the workforce. If they do, it’s usually at a much lower wage.
Just last month, a report from the Equitable Growth Fund saw that Asian men experienced “an average unemployment period of 46.2 weeks and Asian women experienced joblessness on average for 33.9 weeks.”
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