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In 2019, Black unemployment fell to 5.9 percent, a historic low. That same year, the poverty rate for all Americans plummeted to 10.5 percent, the lowest since 1959.
Since 1981, federal budget deficits have increased under Republican presidents Ronald Reagan, both Bushes, and Trump, while deficits have declined under Democratic presidents Clinton and Obama. The economy ran surpluses during Clinton's last four fiscal years, the first surpluses since 1969.
Additionally as of September 2012, the long-term unemployment is the highest it had been since World War II, [84] and the unemployment rate peaked several months after the end of the recession (10.1% in October 2009) and was above 8% until September 2012 (7.8%).
The total unemployment claims filed since the beginning of the pandemic have moved up to 51 million, and the situation is still not optimistic since the complete reopening keeps being postponed. [77] A record 4.3 million people (2.9% of the workforce) quit their jobs in August which is the highest quit rate since the report began in late 2000. [78]
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Ford’s presidency, which lasted just 895 days, saw the second-highest rate of unemployment — second only to George W. Bush, who served during the Great Recession.
In 2016, the unemployment rate was 3.8% for Asians, 4.6% for non-Hispanic whites, 6.1% for Hispanics, and 9.0% for Blacks, all over the age of 16. [7] In terms of unemployment, it can be seen that there are two-tiers: relatively low unemployment for Asians and whites, relatively high unemployment for Hispanics and Blacks.
Black unemployment, however, remained much higher than the overall unemployment rate of 4.4%, which in June inched up from a 16-year low. And, it was greater than the white unemployment rate ...