Unemployment Report Shows Need for Economic Revival
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Unemployment Report Shows Need for Economic Revival
Hispanics Make up 80 Percent of All Newly-Unemployed Workers
(Washington, D.C.) – This morning the Bureau of Labor Statistics released the regular jobs report for the month of August. It shows that the economy gained only 142,000 jobs – the smallest increase since December of 2013, with more unemployed workers dropping out of the labor force than found jobs. More than 2 million Americans have been unemployed for more than a year – and continue to have little hope of finding work.
This report is particularly discouraging to Latinos, whose unemployment rate remains far higher than that of all workers – at 7.5 percent. Additionally, yesterday's federal data on jobless claims shows a rising number of new claims in several states with large Latino populations – including California, New York, and Michigan – a reflection of the continuing weakness of the economy in states where many Latinos reside.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
"For decades, America's dynamic economy has been a beacon for the world. Low taxes, limited regulation, and strong legal protection for entrepreneurs and small businesses guaranteed that no nation on Earth could offer economic opportunity to match America. Sadly, U.S. competitiveness is suffering under the weight of big government, growing debt, and ever-expanding federal regulation. As a result, millions of Americans are being left behind – and too many are losing faith that their children will have a better future.
We can do better. Leaders in Washington can come together – reaching across the aisle – to curb excessive government and allow our economy to grow. America's labor force is second to none, as is our ability to innovate and build new technologies. It was true when Ronald Reagan said it and it is true today: America is too great for small dreams."
For interviews with a LIBRE representative, please contact: Brian Faughnan, 571-257-3309 or Steven Cruz, 202-578-6173
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