The unemployment rate for white Americans increased in October, despite a general downward trend.

The unemployment rate for white Americans increased in October, despite a general downward trend.
The unemployment rate for white Americans increased in October, despite a general downward trend.
  • In October, the unemployment rate for white workers increased from 3.6% in September to 3.8%.
  • Last month, the overall unemployment rate remained steady at 4.1%, despite this bucking the trend.
  • In October, the jobless rates remained unchanged for Black and Hispanic Americans, while the unemployment rate for Asian workers decreased slightly.

The unemployment rate for white Americans increased in October, as per data released by the Department of Labor on Friday.

In October, the jobless rate for white Americans increased to 3.8% from 3.6% in the previous month, despite the overall unemployment rate for the country remaining unchanged at 4.1% in October compared to September, as well as for other demographic groups.

Last month, the jobless rates for Black and Hispanic workers remained unchanged at 5.7% and 5.1%, respectively. Meanwhile, the unemployment rate for Asian Americans decreased slightly to 3.9% from 4.1%.

In October, the jobless rates for both white men and women increased. The jobless rate for men rose from 3.4% to 3.5%, while the jobless rate for women increased from 3.1% to 3.3%.

The unemployment rate for Hispanic women increased from 4.8% to 5.2%, while the rate for Hispanic men decreased from 4.1% to 4.0%. Additionally, the unemployment rate for Black women decreased from 5.3% to 4.9%, while the rate for Black men rose from 5.1% to 5.7%.

The significant decrease in the jobless rate for Black men from 5.9% in August to 5.1% in September, according to Heidi Shierholz, president of the Economic Policy Institute, highlights the inconsistency and instability in monthly data.

She told CNBC that the significant increase in Black male unemployment in October was likely due to a readjustment after the unusual drop in September.

The hurricanes and labor strikes in October affected the unemployment numbers, making it challenging to compare the data points.

She emphasized that it is crucial not to concentrate on one month's data, especially now, as this month's data has been significantly influenced by these unusual and transient factors.

In October, the labor force participation rate decreased to 62.6% from 62.7% in September.

In October, the labor force participation rate among white workers decreased from 62.4% to 62.2%, while it dropped from 67.4% to 66.9% for Hispanic workers. On the other hand, the participation rate among Asian workers increased from 65.3% to 65.5%, and it remained unchanged for Black Americans at 62.9%.

— CNBC's Gabriel Cortes contributed to this report.

by Lisa Kailai Han

Markets