Monday, July 11

Unemployment Rate for Hispanics Dropped

Good news for Hispanics.
The unemployment rate for Hispanics dropped to 5.8% in June, according to data released today by the U.S. Department of Labor. The unemployment rate among Hispanics dropped from 6.0 percent in May, narrowing the gap with the overall U.S. unemployment rate of 5.0 percent (a low not matched since September 2001).

Hispanics gained 45,000 new jobs in June, absorbing an increase of 16,000 Hispanics to the labor force. The entrants came from an increase in the U.S. Hispanic population of 90,000, though that also added 74,000 Hispanics that are not in the labor force. On an annual basis, employment of Hispanics has increased by 610,000 jobs, bringing the Hispanic unemployment rate down from 6.7 percent in June 2004 to the current 5.8 percent.
This is good news for everyone.