November’s unemployment report, according to the Bureau of Labor Statistics, indicated another month of strong employment especially for Latinos. The Latino unemployment rate fell to 4.7 percent from 4.8 percent in October. A year ago in November, the Latino unemployment rate stood at 5.6 percent.
The 4.7 percent Latino unemployment rate is the lowest on record since 1973. Hispanics are also enjoying increased participation in the labor market. According to Pew Research, the Hispanic share of the labor force stood at 14.3 percent in 2007, which was the start of the Great Recession, and it now stands at 17 percent.
U.S.-born Latinos, and not immigrants, account for most of that labor market growth.
Overall the economy added 228,000 jobs in November, with increases in most industries. The general market unemployment rate remains at 4.1 percent, representing a 17-year low. This is the 85th straight month of job gains, the longest on record. Since the election of President Donald Trump over 1.5 million private sector jobs have been added to the economy.
November also saw an increase in the average hourly pay rate going from $26.53 to $26.55.
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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