This Labor Day, Hispanics Still Waiting to Feel the Relief
Household Income Has Fallen Since Recession Ended
(Washington D.C.) – Today’s BLS Job report showed a decrease in the Hispanic unemployment rate, to 6.6 percent – still well above the national average of 5.1 percent. For the month of August, America managed to add 173,000 new jobs. Small businesses were an important contributor to job creation – at85,000 – more than double the number by large firms.
Daniel Garza, Executive Director for The LIBRE Initiative released the following statement:
“As Americans prepare to celebrate Labor Day with family and friends, they continue to face challenging economic times. Despite improvements in the job market, wage growth remainsdisappointing, barely keeping up with inflation within the last year, and household income is still below where it was when the recession ended six years ago. The unemployment rate for Hispanics remains well above the national average, showing how hard it remains for Hispanics to find full-time employment.
While Hispanics tend to have an entrepreneurial spirit – creating small businesses at twice the rate of other ethnic groups – we’re seeing that even those who venture on their own are being crippled by this administration. In the last six years there has been nearly $80 billion in new business regulations hindering wage growth and innovation. Washington needs to stop trying to micromanage the economy, and allow our community to work. Removing obsolete and costly business regulations is the right place to start to incentivize growth and employment opportunities.Our community is eager to work and through increased educational opportunities and pro-market policies they can contribute at a greater scale to this country.”