For Immediate Release
May 08, 2015
Hispanic Unemployment Rises Again, Now Nearly 7 Percent
Middle-Income Families Continue to Struggle
(Washington D.C.) – Given weak GDP growth, today’s jobs report from the Bureau of Labor Statistics exceed some analysts’ expectations, with an increase of 223,000 positions and the national unemployment rate essentially unchanged at 5.4 percent. However, the Hispanic community continues to struggle – with unemployment for Latinos rising far above the national average. This rate has increased in 4 of the last 5 monthly jobs reports, growing from 6.5 percent to 6.9 percent since December. Wage growth overall remains virtually nonexistent – meaning that the millions of families living paycheck to paycheck will continue to struggle. Nearly six years after the end of the recession – and with the threat of another potentially on the horizon — the U.S. economy still has nearly 1 million fewer jobs than when it began.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
«Given the lack of real progress, it’s no surprise that people are increasingly frustrated with the inability of the federal government to reduce poverty, and have become more and more supportive of «dismantling» government. While it is always encouraging to see jobs added to the economy, millions of workers and small businesses are simply not seeing their bottom line improve. Our economy has been stumbling for too long with no indication of long-term wage growth and economic growth.
Hard-working Americans don’t focus on monthly data about small changes in the economy; they care about making ends meet. The Hispanic community is out there looking for chances to be productive but unfortunately an ever-growing government is limiting possibilities. It’s imperative that Washington provides a path for entrepreneurs to flourish and sets the stage for new businesses to be created and to grow.»