WINNING: Jobless Rate for Latino Americans Fell to Record Low in June

WINNING: Jobless Rate for Latino Americans Fell to Record Low in June

The unemployment rate for Hispanic and Latino Americans in June fell to 4.6 percent, their lowest recorded level since 1973. A hot job market has helped pull them off the unemployment rolls and into work. The category comprises people who identify ethnically as Hispanic or Latino and can include all races.

At the same time, the jobless rates for black and Asian Americans rose after reaching record lows in May. The rate for white Americans was flat.

The average length of unemployment fell to 21.2 weeks last month, the shortest span since March 2009.

All told, employers added 213,000 jobs in June. The unemployment rate rose to 4 percent. But it climbed for an encouraging reason: More people came off the sidelines and began looking for a job, though not all of them immediately found one.

The data for demographic groups came from a survey of households that is part of the Labor Department’s monthly jobs report, Fox Business  reports.

CNS News reports:

The national seasonally-adjusted unemployment rate for Hispanics and Latinos in the U.S. labor force fell to the lowest level on record in June of 2018, U.S. Bureau of Labor Statistics (BLS) data released Friday show.

In June, the unemployment rate for Hispanics and Latinos, aged 16 and up, was 4.6%, down from its May level of 4.9%. Before June’s record, the lowest monthly Hispanic-Latino unemployment rate since BLS began tracking the statistic in 1973 was 4.8%.

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While the Hispanic-Latino unemployment rate had been as low as 4.8% in five months, four of those months were during the administration of President Donald Trump; the lone exception being October of 2006:

  1. June 2018: 4.6%
  2. October 2006: 4.8%
  3. June 2017: 4.8%
  4. October 2017: 8%
  5. November 2017: 4.8%
  6. April 2018: 4.8%

During the 17 full months of the Trump administration, beginning in February 2017, Hispanic-Latino unemployment has averaged 5.0%.

In contrast, the national Hispanic-Latino unemployment rate averaged 9.4% during President Barack Obama’s eight years (96 months) in office, impacted by the 2008 recession, which officially ended in June of 2009, according to the National Bureau of Economic Research.

Hispanic-Latino unemployment was 11.3% during Obama’s first full month in office, February of 2009. By January of 2017, the Hispanic-Latino unemployment rate had dropped to 5.9%. Trump was inaugurated on January 20, 2017.

 


 

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