The New York Times is reporting that the unemployment rate among African-Americans is rising at a pace not seen since the mid-1970s in part due to massive layoffs in the manufacturing sector. Since President Bush took office over 2.6 million jobs have been lost in the country. The Times reports that 90 percent of these jobs have been in the manufacturing sector.

In other economic news, The New York Times reports teenagers face the worst summer job market in 55 years.