Hispanic Unemployment Rate at 6.9 Percent
(Washington, D.C.) – Today the Department of Labor issued the monthly employment report for August, finding that the overall unemployment rate now stands at 5.9 percent. The rate for Latinos is significantly higher – at 6.9 percent. Additionally, the labor participation rate has fallen – and now sits at its lowest level since 1978.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
"The continuing weakness of the U.S. economy means that working families are increasingly falling behind. Median annual income for Hispanic households has fallen by more than $2000 since 2009. Today, more than 1.2 million Hispanics find themselves trapped in part-time work, wages are not improving, and millions are worse off than they were just a few years ago.
The American people understand that limiting taxes and reining in excess regulation will allow American workers and small businesses to start earning and investing for a better future. The economy remains extremely fragile – despite, massive federal spending and the Federal Reserve's easy money policy. Real growth will come when Washington gets out of the way, and allows private sector entrepreneurs to grow and lead."