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Hispanic Unemployment Remains High: February Jobs’ Report

March 8, 2024

(Arlington, VA) – In February, 275,000 were added to the economy, but below the top-line jobs number, unemployment and underemployment went up. Overall unemployment rose to 3.9 in February, and Hispanic unemployment stayed steady at 5 percent. While the more granular data show some signs of cooling, the higher-than-expected 275,000 jobs number likely means Fed rate hikes are nowhere in the near future.

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

“The inflation rate has slowed, but that doesn’t mean that many Latinos aren’t feeling the effects of paying more for essential goods and services. Even if inflation fell dramatically tomorrow, Americans would still pay $1,100 more monthly for the same goods they bought 2 years ago. 

This is Bidenomics at work.

Unfortunately, if the president’s State of the Union speech is any indication, the American people can expect more of the same in the months to come.

The Latino community desperately needs President Biden to work with Congress to enact pro-growth reforms that will create true prosperity and economic opportunity.”

Background:

The LIBRE Initiative is a national organization dedicated to empowering the Hispanic community to reach its full potential by promoting and fighting for freedom-oriented solutions at the state and federal levels. We leverage the strengths of our community to transform lives and policies, partnering with community leaders, activists, faith groups and business owners, to advance legislation that breaks down barriers to opportunity.