Sept. Job’s Report Analysis

The LIBRE Initiative, the country’s largest center-right Latino organization committed to pro-growth economic policies, released the following statement and analysis following the latest Bureau of Labor and Statistics (BLS) job numbers:

“The Latino community is feeling the brunt of the economic pain and is looking to Washington for permanent solutions to their ongoing economic struggles. This can only happen when we reduce federal spending and enact sensible pro-growth economic policies to grow our economy for all. Further the inflationary environment poses an additional problem that still needs to be addressed. Due to the upward revisions and the September payroll number the Federal Reserve could expect one more rate hike before the end of the year.

In September payrolls increased by 336,000 jobs, which exceeded expectations. Looking beyond the topline however, reveals that the labor market, particularly when it comes to Latinos is not a strong as it may initially appear. While Hispanic unemployment rate decreased in September (4.6%) after a spike in August (4.9%), it remains higher than it was in September of 2022 and higher than the average unemployment for 2023.”