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Utopia Talk / Politics / BET founder: Trump's Economy Is
| Mon Apr 09 10:39:16|
BET founder: Trump's economy is bringing black workers back into the labor force
The growing U.S. economy and improving business environment is bringing black workers back into the labor force, BET founder Robert Johnson tells CNBC.
"When you look at that, you have to say something is going right," Johnson says.
Berkeley Lovelace Jr. | @BerkeleyJr
Published 9:20 AM ET Fri, 6 April 2018 Updated 6:42 PM ET Fri, 6 April 2018
The growing U.S. economy and improving business environment is bringing black workers back into the labor force, BET founder Robert Johnson told CNBC on Friday.
Johnson, the nation's first black billionaire, spoke before Friday's jobs report, which showed nonfarm payrolls rose 103,000 in March, falling well short of the 193,000 gain economist were expecting.
In January, the Labor Department reported the unemployment rate among black workers was at its lowest since at least the early 1970s, when the government began tracking the data. The unemployment rate for black Americans spiked in January and then fell in February. The rate was unchanged in March at 6.9 percent.
"When you look at that [January report], you have to say something is going right," said Johnson, a Democrat and founder and chairman of The RLJ Cos.
"You have to take encouragement from what's happening in the labor force and the job market," Johnson told "Squawk Box." "When you look at African-American unemployment, ... you've never had African-American unemployment this low and the spread between African-Americans and whites narrowing."
Johnson said that means the jobs market is "soliciting employees who have been out of the labor force, some of it based on discrimination, some of it based on changes in education, access and technology changes."
Additionally, the business environment in the U.S. is also good, Johnson said. "I believe if you take into account the Trump tax cut, you take into account the drop in unemployment, ... and you take into account that interest rates are fairly stable" the economy is going to grow, he said.
"I believe the economy is on a strong growth path," he added.
President Donald Trump has touted the black unemployment rate both on Twitter and his State of the Union address in January. Critics say Trump can't take full credit because black unemployment had been on the decline before Trump took office.
Johnson has said he has known Trump for years. Johnson met with the then president-elect in 2016 and said he believes the president wants to work with African-Americans and all Americans to boost the economy.
Johnson also spoke again about a job offer he received from Trump. He said he didn't take the unspecified position because he didn't want a government job and not because of the president's policies.
WATCH: BET founder on the Trump economy
| Mon Apr 09 11:20:15|
so he's one of the fools buying the Trump bullshit talking points
there is a steady decline starting years before Trump.... just happened to dip into the historic low once Trump took over
| Mon Apr 09 11:24:10|
black unemployment graph
nothing suggests 'WOW, TRUMP!'
| Mon Apr 09 11:31:11|
No one said it did.
I think the point is that Trump's economy will continue to lower the rate for Blacks until there is parity between the two races.
| Mon Apr 09 11:38:31|
Thank you for your continuance of not knowing how the economy works.
| Mon Apr 09 11:45:06|
How does it work exactly?
Are you saying that there will never be employment parity between the two races?
| Mon Apr 09 11:53:08|
| Mon Apr 09 13:15:50|
"No one said it did"
yes, Trump shills are saying it all the time
every time he's accused of being racist: "well Trump's brought black unemployment to historic lows!"
and Trump himself with his typical total bullshit:
"Somebody please inform Jay-Z that because of my policies, Black Unemployment has just been reported to be at the LOWEST RATE EVER RECORDED!"
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