Latest Jobs Report Shows Lowest Unemployment Rate for Blacks and Hispanic
LEMON: There's some really good news today on jobs, overall unemployment continues to fall. And in the black community we're about as close to full employment as we have been. So back with me now is April Ryan. Joining the CNN political commentator is CNN political Catherine Rampell and Steve Cortes -- commentators, I should say. Good evening. Welcome to the program both of you and welcome back, April.</s>STEVE CORTES, POLITICAL COMMENTATOR, CNN: Thank you.</s>LEMON: So, Cathy, let's start with you, black unemployment rate is the lowest since the government start to keeping track since 1972, it's down to 5.9 percent from 6.8 percent last month. It is a downward trend. It started under the Obama administration but everyone is talking about who gets credit, who gets credit here, what do you think?</s>CATHERINE RAMPELL, CNN POLITICAL COMMENTATOR: Look, if you look at this chart it's basically been a straight line for like, what, the last six or seven years. There is no, you know, sudden discontinuity when Trump got into office and suddenly the economy was booming and employment fell dramatically for everyone and for black people in particular. This is what happens when you have an economy in recovery. It's great news that unemployment has been falling for the black community in particular. But it's not Trump's credit, it's not Trump's blame, and in general I would say that president get too much credit when things are doing well in the economy and too much blame when things are doing poorly. It's true for Obama, it's true for President Trump even though he likes to tout these numbers.</s>LEMON: Yes.</s>RAMPELL: And I would also add by the way, that if you are going to stack up Trump's record against Obama, in fact, jobs growth month to month under Obama under the last 16 months of his presidency was a little bit stronger for black workers than it is -- has been under Trump.</s>LEMON: April, the president actually talks about blacks and Hispanic unemployment numbers quite a bit. Take a look at this.</s>RYAN: Yesterday.</s>TRUMP: Black unemployment is the best it's ever been in recorded history. It's been fantastic. African-American unemployment stands at the lowest rate ever recorded. We're setting records. Black unemployment at an all-time historical low. Hispanic unemployment at a historical low. All-time low, black unemployment, I'm very proud of that. And Hispanic unemployment, all- time low. And what did I say, what the hell do you have to lose? And now we have numbers coming out that are so fantastic for Hispanic, for African- Americans.</s>LEMON: April, why do you -- you say you wish the president would stop talking about black unemployment, why?</s>RYAN: I have said that. First of all, let me say I think it's great that black unemployment numbers are below 6 percent now. But you got to remember, black unemployment is normally 1.5 or two times that of white Americans. Hispanic unemployment is high as well. Now here's where the problem lies. This president is touting black unemployment numbers dropping. It's great. But guess what, if they would have a targeted approach they can really make history and change the dynamic to bring it down even more, to make it comparable to maybe white America. So, you know, it's one thing to say it, they're not doing anything, you know, specifically to target black unemployment. Since blacks were brought to this country there has been a disproportionate amount of -- economics are off the scale, there's a big gap. There's a gap economically and job wise. I mean, if this president decided to really put his hands on this he could really make a difference. So it just happens as he's walking along--</s>CORTES: April, listen.</s>RYAN: -- the numbers are just dropping as he walks along.</s>LEMON: So let me, before you--</s>CORTES: No, that's not true, April.</s>LEMON: But before you respond because I want to get -- this is some of the numbers. You can respond to this. The overall unemployment rate is 3.8 percent. OK. Steve, this is for you. Black young employment is at 5.9. Hispanic is at 4.9, whites 3.5, and Asian-Americans at 2.1. So I mean, there's still a gap. And you e-mailed me earlier touting the Hispanic numbers. Go.</s>RYAN: Huge gap.</s>CORTES: Yes. And by the way, there is a huge gap. And the gap between, I think even more importantly between household wealth. Between White Households and minority households widened dramatically under the presidency of Barack Obama, it is now narrowing again and the gap between employment between minorities and white is narrowing--</s>RYAN: We were coming out of a recession at that time.</s>CORTES: -- is narrowing dramatically under President Trump. Hispanic, in particular--</s>RYAN: There was a recession; we were coming out of recession--</s>CORTES: -- my community we have--</s>LEMON: Let him finish. April, let him finish.</s>CORTES: I'm talking, April. I'm talking. In the history of America there have been eight months--</s>RYAN: I hear you.</s>CORTES: -- where Hispanic unemployment was under -- was under 5 percent. Seven of those eight months have been within the year under the leadership of President Trump.</s>RAMPELL: Again, these are continuations of the exact same trend that we saw--</s>CORTES: And for you to try to diminish this amazing news--</s>RAMPELL: -- under Obama.</s>CORTES: No. Hold on.</s>RAMPELL: This is a business cycle.</s>CORTES: Catherine, the unemployment rate was dropping under President Obama in large part because people were dropping out of the work force and no longer counted according to government statistics as unemployed.</s>CORTES: That -- OK, that is not true.</s>RYAN: I'm not going to listen. I'm sorry, I'm sorry. There was a recession. There was a recession--</s>CORTES: Blacks and Hispanic are benefitting.</s>RYAN: The recession began with George W. Bush.</s>LEMON: OK, one at a time please. One at a time.</s>RYAN: The recession began with George W. Bush.</s>LEMON: One at a time, please stop both of you. OK. But listen, both of you. I want both of you to be heard, all of you to be heard but the audience is not here when everyone is talking at the same time. So Steve, finish your point and then the others will jump in. Go ahead, Steve.</s>CORTES: Let me talk specifically on Hispanics where the most entrepreneur groups disagree in America by far. Entrepreneur small business confidence is soaring.</s>LEMON: But Steve, in the interest of time, can you just please stick to the topic.</s>CORTES: Regulatory relief--</s>LEMON: Yes, stick to the topic.</s>CORTES: This is the topic.</s>LEMON: All right. Don't be--</s>CORTES: Don, that's the topic, they're hiring. They're hiring.</s>LEMON: OK.</s>CORTES: My point is small business is excited and confident and hiring and spending and investing and Hispanics benefit disproportionately in a great way--</s>LEMON: OK.</s>CORTES: -- when small business does well. This is wonderful news for black and brown people in this country they're finally starting to prosper.</s>LEMON: Cathy, what do you want to say?</s>RAMPELL: I just wanted to say again, that these are continuations of the exact same trends that we have seen. The unemployment rate has been falling pretty much in a straight line for all of these demographics that we are talking about, again, this is the business cycle at work. You can't credit Trump, you can't credit Obama, presidents have some marginal effects on economic trends but they do not control the unemployment rate and the numbers that we're seeing look good, but again, these are the trends we have seen. And if you actually want to compare Trump versus Obama, the numbers were better in fact month to month.</s>LEMON: OK. So here's what I have to say.</s>RAMPELL: Trump just create a change.</s>LEMON: It seems like everyone and anyone with a brain and anyone who is objective knows that the economy and unemployment that Barack Obama had a lot to do with it. That he had an uphill climb as president. There were meetings before he was president concerned about that the economy might go off the cliff. So you have to give him credit for that. But you can't expect Donald Trump not to take credit when it happens on his watch, he's just going to do it. I mean--</s>RAMPELL: Well, he is going to do it. It doesn't mean he deserves the credit--</s>RYAN: This is now his economy. This is now his economy.</s>RAMPELL: He hasn't blown up the economy.</s>LEMON: I understand, yes. You can't expect him to say well, this has -- he's never going to say that Obama did this. He's never--</s>RAMPELL: No, of course not.</s>LEMON: He's never going to say that Obama set him up with--</s>RAMPELL: Look, I'm a journalist.</s>LEMON: I agree.</s>RAMPELL: My job is not to say, Trump is well within his rights to misrepresent what the trends are. I'm going to say here's what the trends are.</s>RYAN: Don, Don, Don--</s>LEMON: April, quick.</s>CORTES: You sound a lot--</s>RYAN: OK. This is now--</s>CORTES: You sound a lot like his right hand right now rather than a journalist.</s>RYAN: Donald Trump--</s>CORTES: Here's what's important to his--</s>LEMON: April first and then Steve. Go ahead, April.</s>RYAN: Come on, Steve. Steve, anyway.</s>CORTES: OK.</s>RYAN: My God, see. This is now Donald John Trump's economy. This is now his economy. Did he have a residue, a positive residue from Barack Obama? Yes. Could he do more for black unemployment? Yes. Is black unemployment dropping now? Yes. But if you really want to show the black community that there's an urban agenda you still have unemployment that's higher than any other group, and seeing unemployment in the black community is highest of all. So the bottom line is if he were to target it would go down more.</s>LEMON: You're talking about full employment and full respect.</s>RYAN: It's happening and he's just walking along.</s>LEMON: You're talking about full employment and full respect. OK, go ahead, Steve.</s>RYAN: Yes.</s>LEMON: Quickly please because seriously I'm out of time.</s>CORTES: I would say this. Sure, the slow growth of the Obama years disproportionately benefited only the top 1 percent of the economic spectrum which is paradoxical because they claim to be all about the working class. Income inequality was exacerbated the entire time. The opposite is happening now. Middle class wages are worrying people without a cost--</s>RAMPELL: That is absolutely not true.</s>CORTES: -- are seeing the highest wage growth in a decade.</s>RAMPELL: That is absolutely not true.</s>CORTES: This is -- yes, it is. It is absolutely true.</s>RAMPELL: Middle class wages are--</s>RYAN: There are still underemployment--</s>LEMON: OK. Hang on. Hang on both. Catherine--</s>RYAN: A lot of people are still unemployed in this nation.</s>LEMON: Catherine is a journalist here. She's not partisan so, Catherine, give us the truth and then--</s>RAMPELL: Look, you and I have actually the same data.</s>CORTES: So it doesn't -- it sound pretty partisan to me.</s>RAMPELL: You and I have access to the same nonpartisan data from the Bureau of Labor statistics. You can look it up, you can see what has happened to wage growth. It's been relatively sluggish, that has been the case throughout the recovery.</s>CORTES: No, Catherine, that's wrong.</s>LEMON: OK.</s>RAMPELL: That's not wrong.</s>LEMON: I got to go guys. Let's continue this.</s>RYAN: Unemployment numbers--</s>CORTES: Wages are off.</s>RYAN: What about the underemployment numbers?</s>LEMON: Facts are not -- facts are not partisan. So thank you, guys. I appreciate it. Have a great weekend. When we come back, the man the president said lost his mind after losing his White House job, Steve Bannon sits down exclusively with CNN. We're going to discuss what he says about President Trump now.