In the period since the passage of the 1964 Civil Rights Act Blacks have continued to experience severe disadvantages relative to Whites in such areas as family stability, unemployment rates, average income, poverty rates, and dependence on government transfer payment programs. From the diverse statistical indicators of relative status two sharply conflicting interpretations have emerged. One stresses relative improvements and convergence towards a position of parity with Whites. The second stresses the lack of overall progress. This paper reviews national data that summarize recent trends in the labor market performance of Blacks and Hispanic Americans. The following three economic indicators are examined: (1) relative earnings; (2) unemployment rates; and (3) labor force participation rates. Using data from the Current Population Survey, Black unemployment rates are analyzed in five large metropolitan areas. This analysis explores the effects of regional unemployment developments and tests for upward trend in the Black unemployment rate relative to the rate for Whites. National and regional data on employment trends since 1948 are examined. The following major theories that purport to explain the disparities in the labor market performance of Blacks and Whites are discussed: (1) supply theories; (2) demand theories; and (3) spatial mismatch theories. Areas for future research are identified. Data are presented in 10 tables and figures. A list of references is included. (BJV)