Mixed Unemployment Report Holds Bad News for Latinos
New Polling Shows Americans Reject Proposed Gas Tax Increase
(Washington, D.C.) – Today the Bureau of Labor Statistics released the Unemployment report for the month of January, which shows that the economy gained 257,000 jobs while the Unemployment rate rose to 5.7 percent. The report was mixed for Hispanics, who face a far higher Unemployment rate of 6.7 percent. Another 6.3 percent of Hispanics are being forced into part-time work when they would prefer full-time employment. Additionally, the rate of long-term Unemployment for Hispanics rose to 29.2 percent, while the Hispanic youth Unemployment rate jumped significantly – from 16.6 percent to 22.1. The average duration of Unemployment for Hispanics increased from 26.8 weeks to 29.3 weeks. Adding to concerns about the economy, these findings come as Washington is reporting a significant slowdown in GDP growth – which was already too low. Amidst this economic uncertainty, it is no surprise that new polling shows Americans strongly rejecting any proposed gas tax increase.
Daniel Garza, Executive Director of The LIBRE Initiative released the following statement:
«It’s encouraging to see any improvement in the economy, and it’s clear that the first steps toward spending restraint and other reforms imposed by Congress are having an effect. Nevertheless, the United States still has fewer full-time jobs than it did it did eight years ago, and as many as 30 million Americans may be ignored in official government counts of the unemployed. Furthermore, median income remains below where it was at the start of the Recession – even after years of what Washington calls a recovery. Middle-income Americans now earn less than they did 15 years ago, adjusted for Inflation . And Latinos in particular, remain unemployed at far higher rates than all Americans.
It’s obvious that there is much more to do to restore broadly-shared prosperity. Washington must commit to spending restraint and fiscal responsibility. Proposals such as increasing the gas tax to enable more spending should be non-starters, as Americans clearly recognize that they are benefiting from falling prices. Unnecessary federal rules and Regulation s that raise the cost of living need to be reformed. If Washington instead pursues an agenda of spending and Regulation , working families will pay the price.»