Monday, June 17, 2024

Latino Unemployment Remains High even as Overall Unemployment Rate Drops to Two-Year Low

The number of jobless Latinos remained high despite an overall decline in the national unemployment rate to a two-year low. 
The unemployment rate for Latinos remained unchanged at 11.4% between October and November, while the national unemployment rate dropped from 9% to 8.6% in November, the lowest it’s been since March 2009, according to the Bureau of Labor Statistics.
A total 80,000 jobs were added during the same period.  
Latino teenagers have been among the worst hit with an unemployment rate of 31.8%, which is 8.1% higher than teenagers in general across the country.
“Now is not the time to slam the brakes on the recovery. Right now it’s time to step on the gas,” President Obama said in a speech last week asking Congress to extend a payroll tax cut.
The unyielding figures for Latino unemployment might be partially explained by mixed results in sectors that employ large amounts of Latinos.  A total of 22,000 jobs were added in the leisure and hospitality industry, but on the other hand, 20,000 construction jobs were also lost.
The Labor Department’s report was released as Congress continues debating job-creation measures included in President Obama’s job plan. On Thursday, the Senate voted down a $60 billion infrastructure spending bill from the plan for the third time in four weeks.