Black unemployment rate hits record low

The unemployment rate among black Americans hit a record low in August, closing in on the gap in unemployment rates between white and black Americans.

The Bureau of Labor and Statistics released their August report Friday, which showed the economy gained 130,000 jobs in August with the overall unemployment rate holding steady at 3.7%. The report also showed that black unemployment fell to 5.5%, which is the lowest rate recorded since the Labor Department started tracking the number in the 1970s.