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Hispanic Jobs Report Analysis

December 8, 2023

In November, 199,000 jobs were added to the economy. This increase, in part, reflects the end of longstanding strikes in the auto industry. Unemployment ticked down to 3.7 percent from 3.9 percent the month before. The health care industry saw the largest job growth in November adding 77,000 jobs to the economy outpacing its average monthly growth of 55,000 jobs over the last year.

Changes in the employment situation for Hispanics this month seem to largely follow the trends at the topline. Unemployment dropped to 4.6 percent from 4.8 percent in October while labor force participation ticked up by .1 percentage points to 67 percent. Compared to the October employment situation key indicators are moving in the right direction. 

Isabel Soto, policy director for The LIBRE Initiative, released the following statement:

“The November jobs numbers are encouraging when compared to data from the previous month. However, compared to this time last year unemployment is still higher in the entire economy with Hispanics seeing the largest year over year increase. Ensuring Hispanics can pursue success in the labor market by removing burdensome regulations and reducing barriers to entry is crucial for the overall health of the economy given that Hispanics historically have the highest labor force participation among demographic groups.”