Hispanic Unemployment rose to 4.8% in October: Jobs Report

In October, the Hispanic unemployment rate rose to 4.8 percent. In total 150,000 jobs were added to the economy and unemployment ticked up to 3.9 percent, up .1 percentage point compared to the previous month. 

Forty five thousand more Hispanics were unemployed in October compared to September. This time last year Hispanic unemployment was at 3.9 percent. Hispanics made up 31 percent of the total unemployment increase in October in addition to seeing a drop in labor force participation rate.

Isabel Soto, Policy Director for The LIBRE Initiative, released the following statement: 

“October’s jobs report is particularly troubling given that Hispanics are overrepresented in key industries and typically have the highest labor force participation of any other racial or ethnic group. This past month’s drop in labor force participation takes Hispanics even further away from getting back to the participation rate that was seen pre-pandemic. Clearly, the economy is not moving in the right direction. The total topline numbers show little to no improvements and the Hispanic employment situation worsens.

This is why it’s even more crucial for Congress to responsibly pass appropriations bills in order to keep the government operating and pursue pro-growth policies that keep workers and the overall health of the economy in mind.”

Click here to see an analysis of September’s Latino Job’s report 

Background

The LIBRE Initiative is the nation’s largest center-right Latino organization committed to freedom-minded solutions that remove barriers to opportunity and empower individuals. 

Hispanic Unemployment rose to 4.8% in Oct.: Job’s Report

Arlington, VA – In October, the Hispanic unemployment rate rose to 4.8 percent. In total 150,000 jobs were added to the economy and unemployment ticked up to 3.9 percent, up .1 percentage point compared to the previous month. 

Forty five thousand more Hispanics were unemployed in October compared to September. This time last year Hispanic unemployment was at 4.2 percent. Hispanics made up 31 percent of the total unemployment increase in October in addition to seeing a drop in labor force participation rate.

Isabel Soto, Policy Director for The LIBRE Initiative, released the following statement: 

“October’s jobs report is particularly troubling given that Hispanics are overrepresented in key industries and typically have the highest labor force participation of any other racial or ethnic group. This past month’s drop in labor force participation takes Hispanics even further away from getting back to the participation rate that was seen pre-pandemic. Clearly, the economy is not moving in the right direction. The total topline numbers show little to no improvements and the Hispanic employment situation worsens.

This is why it’s even more crucial for Congress to responsibly pass appropriations bills in order to keep the government operating and pursue pro-growth policies that keep workers and the overall health of the economy in mind.”

Click here to see an analysis of September’s Latino Job’s report 

Background

The LIBRE Initiative is the nation’s largest center-right Latino organization committed to freedom-minded solutions that remove barriers to opportunity and empower individuals.