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Hispanic Unemployment Rate Up Again
Nearly five years of national unemployment rates above 7 percent
(Washington, D.C.) – The overall unemployment rate has increased to 7.3 percent according to the Bureau of Labor Statistics (BLS) monthly jobs report released today. These latest numbers indicate that the unemployment rate has now been above 7 percent for nearly 5 years – while Hispanic unemployment rose to 9.1 percent. Even though the economy added 204,000 jobs overall, the labor force participation rate fell to a fresh 35 year low of 62.8 percent. This suggests an increasing number of Americans are giving up on finding work and the number of people who are involuntarily working part-time for economic reasons, rose by 124,000.
Daniel Garza, Executive Director of The LIBRE Initiative released the following statement:
"These numbers explain why millions of Americans don't see their finances getting better, don't feel any improvement in their economic prospects, and fear that economic uncertainty and rising insurance costs threaten their well-being. It is time for our elected officials to do the right thing or be held accountable by the people for making the wrong fiscal choices for America."