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Korean American Unemployment at 34-Year High

International Examiner, Posted: Jan 08, 2009

The number of unemployed Asian Americans, including Korean Americans, has shown a rapid increase in the last months, reports the Korea Times. Nationwide, 72,000 Asian Americans were unemployed in November 2008.This brings the current reported unemployment rate among Asian Americans up to 4.8 percent. According to U.S. Labor Department unemployment statistics released on December 5, the total number of Asian Americans without work in November was 343,000 compared to 271,000 unemployed workers in October, or 3.8 percent of Asian Americans nationwide. The number of unemployed persons in other ethnic or racial groups for the same period (October and November) rose as follows: Caucasians, from 6,923,000 (5.5 percent) to 7,336,000 (5.8 percent); African Americans, from 1,952,000 (11 percent), to 1,979,000 (11.2 percent). Unemployment among Asians (from 271,000, 3.8 percent, to 343,000, 4.8 percent) increased by a full percentage point, while rates in the other two groups increased by only 0.3 and 0.2 percent, respectively. The statistics show that the month-to-month impact has been highest on Asian Americans.

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