Slow Growth Leaves Latino Unemployment High
(Washington, D.C.) – According to figures released today by the Bureau of Labor Statistics (BLS), the national unemployment rate rose to 6.2 percent in July. The unemployment rate for Latinos remained higher – at 7.8 percent, unchanged from June. And more Latinos are leaving the workforce than are entering, as the labor participation rate fell to 65.9 percent. The so-called "real unemployment rate" – which includes discouraged workers and those forced to accept part time work – is closer to 18 percent for all workers.
In fact, the number of jobs added in the last month closely tracks the number of newly unemployed – showing the economy continues to make little progress toward creating economic opportunity for struggling families. This all comes against the backdrop of an increasing number of mass layoffs by large companies.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
"Latinos will find little to like in today's unemployment report. More are dropping out of the workforce, and many are accepting part-time work because there are no full-time positions available. Too many are being told that this is the best America can do.
But we know differently. Millions of Latinos understand that if elected officials rein in government taxes, regulation, and interference, entrepreneurs and workers can revive the dynamic growth engine that has always driven this nation. It is time for those in Washington to work across the aisle on just such an agenda."