(Washington, D.C.) – According to the Bureau of Labor Statistics, the national unemployment rate fell slightly to 4.2 percent in the month of September, although the economy lost approximately 33,000 jobs, and the labor force participation rate climbed to 63.1 percent. For Latinos, the unemployment rate was higher than others – at just 5.1 percent – and the labor force participation rate was also higher, at 66.5 percent, but below its prerecession peak of 69.5 percent. This comes on the heels of a report from the Pew Research Center that finds the Hispanic unemployment rate to have fallen to historically low levels. According to Pew, Hispanic unemployment fell to just 4.7 percent in the second quarter of 2017.
Daniel Garza, President of The LIBRE Initiative, released the following statement:
“The vitality of the U.S. economy is a reminder that when government is committed to limiting burdensome regulations and taxes, entrepreneurs and businesses of all size tend to do better. This helps workers of all stripes – particularly Latinos, who are now enjoying more success than ever at finding work. Despite this progress, it is clear that more must be done. Many workers are experiencing stagnant wages, or finding it hard to save for the future because taxes eat up too much of their paychecks. It is high time Congress and the president come together on tax reform that helps Hispanics and others benefit from greater economic opportunity.”