Improving Economy Still Not Reaching Many Latino Workers
Curbs on Spending May Be Helping
(Washington, D.C.) – Today’s unemployment report from the Bureau of Labor Statistics shows that the economy added 321,000 jobs during the month of November, while the overall unemployment rate remained unchanged. For Hispanic workers, the unemployment rate fell from 6.8 percent to 6.6 percent, while the total number employed part time for economic reasons climbed to 1.38 million – representing 5.7 percent of all working Hispanics overall. Also troubling, the number of Latinos unemployed for at least 27 weeks climbed to 29.89 percent from 28.32 percent last month.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
“The last few years have seen increased American energy production, some preliminary steps toward spending discipline in Washington, and a pause in the flood of massive new regulatory plans. It’s encouraging that as we have seen these changes implemented, there’s been some improvement in the U.S. labor market. This is clearly not the time for a massive and costly new regulatory agenda, as the White House apparently has planned.
That said, the Hispanic unemployment rate remains significantly higher than the nation as a whole, and even more Latinos are being forced into part-time work – and staying unemployed even longer. Among all workers, wage gains are uneven, with low-income workers seeing little improvement. There’s clearly a lot of room for improvement. If Washington policymakers stay committed to an agenda of spending discipline, and limited, cost-effective regulation, there’s reason to hope for continued improvement.”