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Latino Daily News

Friday July 5, 2013

Unemployment Rate Remains at 7.6%, Hispanic Unemployment Increases to 9.1%

Unemployment Rate Remains at 7.6%, Hispanic Unemployment Increases to 9.1%

Photo: Latino Unemployment Rate

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According to the Bureau of Labor Statistics June’s unemployment rate remained unchanged at 7.6 percent.  The rate is slightly better than anticipated, market expectations were pegged at 7.5 percent. 

Last month the economy added 195,000 more jobs.  Overall the economy has added an average of 202,000 jobs a month since the beginning of the year.  Also encouraging news on the employment front – job gains for the month of April and May were revised upward.

Employment rates gains were measured in the business services, healthcare, hospitality, retail trade and professional industries.  Professional services gains were mostly seen in management and technology.  Over the past year, professional and business services has added 624,000 jobs. 

The Latino/Hispanic unemployment rate ticked up to 9.1 percent from 8.6 percent for May but substantially down from where it was a year ago.  In June, 2012 Latino employment rate stood at 11.0% for June.  Latino teen unemployment shows the highest unemployment rate for this demographic.  There were 29.6 percent 16-to-19-years-old Latinos unemployed in June.