Unemployment Report Shows Continuing Challenges for Latino Workers
(Washington, D.C.) – The Department of Labor has released the monthly jobs report for the month of November, with a drop in the national unemployment rate to 4.6 percent. Hispanic unemployment remains significantly higher – at 5.7 percent. The Hispanic millennial unemployment rate is 6.79 percent, and 1.1 million workers are currently forced into part-time work when they would prefer full-time employment.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
“America’s economy has been disappointingly sluggish for far too long now and a slight reduction in the unemployment rate belies the economic problems distressing millions of American families. Wages have remained stagnant since 2000, our labor force participation rate has fallen to 1970’s levels, home ownership continues its 10-year decline, and job creation by new businesses has fallen by over a million jobs since the year 2000. Today, Hispanic unemployment is still a full point higher than that of all workers, and even more troubling is that the percentage of Latinos in the workforce fell this month. In fact, 1 in 4 unemployed Hispanics now fall among the ranks of the long-term unemployed.
Public policies set in Washington are expected to see significant changes in the months ahead. Policymakers must remember that a long-term problem in the economy has been a lack of entry-level opportunities, as government regulations and mandates make it costlier and more difficult for small businesses to hire new staff. These opportunities are often critical for Latinos, and for workers who need to acquire and develop new skills. As new approaches are debated, our representatives must keep this in mind.”