The Bureau of Labor Statistics’ August unemployment report indicates job growth has slowed for all Americans including Latinos. The economy added 156,000 net new jobs resulting in the unemployment rate creeping up to 4.4 percent from 4.3 percent in July. Economists were expecting net new jobs growth to come in at 200,000.
The Latino unemployment rate creeped up by 0.1 percent in August from 5.1 percent in July to 5.2 percent, with nearly 1.4 million Hispanics out of work. Twenty-three states individually track Latino unemployment and those states reflect Latinos have the highest unemployment at 8.9 percent in Connecticut while enjoying the lowest unemployment rate in Colorado at 1.9 percent. The unemployment rate of Latinos in Colorado is lower than any other demographic in the state, it is the only state where the Hispanic unemployment rate is lower than the white unemployment rate.
While Hispanic unemployment rates like the overall rate is at or near a 16 year low, the Black unemployment rate remains at high levels. African Americans had the highest unemployment rate nationally, at 7.4 percent in August. African American unemployment rates exceed white unemployment rates by a ratio of 2-to-1 or higher according to the Economic Policy Institute.
Latino employment outlook continues to be positive as the construction, manufacturing and mining sectors continue to add jobs – industries where many Latinos are employed. The construction sector hiring surged by 28,000, while the mining sector added 6,500 workers.
August reports continue to show average hourly wages aren’t really moving upward. August showed average hourly wages increased by a meager 3 cents to $26.39/hour – a 2.5 percent increase from 2016. Typically with low unemployment hourly wages tend to go up.
HSN Staff Writers
HSN staff writers are a group of enthusiastic and talented creative-types that generate great story lines and write about current events with a distinctively Latino voice always respecting the audience it writes for.
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