The decline in U.S. unemployment in August was led by significant drops in unemployment among black men and Hispanic women, according to data released Friday.
The overall unemployment rate declined by 1.8 percentage points, from 10.2% to 8.4% — the lowest mark since the coronavirus outbreak in March. Economists had forecast a rate of 9.8%.
The largest decline in unemployment was among Hispanic women, whose rate fell from 14% a month ago to 10.5%, a drop of 3.5 percentage points.
Black men also experienced a considerable decline as their unemployment rate fell three percentage points, from 15.2% to 12.2%.
Additionally, white women saw their unemployment rate fall by 2.3 percentage points, from 9.6% to 7.3%, while white men experienced a decline of 1.4 percentage points, from 8.3% to 6.9%.