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True Unemployment Rate Soars Past 24% — Black Workers Hit Hardest

By Stacy Brown | Black Press USA. The numbers mark the third consecutive month that functional unemployment has surpassed 24%, according to LISEP, which defines functional unemployment as the combined total of those without jobs.

Despite federal reports suggesting a stable labor market, new data from the Ludwig Institute for Shared Economic Prosperity (LISEP) reveals a far grimmer reality for American workers—particularly Black and Hispanic Americans. The institute’s April report on the True Rate of Unemployment (TRU) shows a functional unemployment rate of 24.3%, compared to the official Bureau of Labor Statistics (BLS) figure of 4.2%.