Slow Growth Continues as Hispanic Unemployment Increases
(Washington, D.C.) – Today the Bureau of Labor Statistics released the regular employment report for the month of June. The nation's unemployment rate fell to 6.1 percent last month, as the economy added more than 280,000 jobs. Part time positions increase by nearly 800,000, while full time jobs fell by more than a half million, and the number of people left with no option but to accept part time work instead of full time increased above 7.5 million.
Jorge Lima, Policy Director of The LIBRE Initiative released the following statement:
"This report is right in line with analysts' expectations, and confirms what we already knew:the economy is slowly adding jobs, but many continue to fall further behind. That's not surprising when so many can't find full-time jobs and are forced to accept part-time work. Furthermore, we continue to see more of the nation's unemployed give up looking for work than actually find it. As a result, the percentage of Americans in the labor market is stuck near historic lows.
For Hispanics, the news is worse. The Hispanic unemployment rate is rising – and for Hispanic millenials it's close to 10 percent. This month there are an additional 30,000 unemployed Hispanics, for a total of nearly 2 million, and another 1.6 million were forced into part-time work. This is an unbalanced 'recovery' – one that too many Americans are not experiencing. It's time for government to get out of the way of real economic growth."