Photo: One Day Closer
Today, the U.S. Department of Labor reported that employers added 235,000 jobs in February, a hefty gain that far exceeded economists’ prediction of 190,000 jobs. Additionally, the national unemployment rate decreased by 0.1 percentage points to 4.7 percent. The U.S. Federal Reserve says that he low rate, which has stayed under 5 percent since April 2016 indicates our economy is at or near full employment.
The Latino unemployment rate dropped by almost half a percentage point to 5.6 percent last month. An increase in construction appears to have spurred Latino employment. The industry added 58,000 jobs with the most growth in specialty trade contractors and heavy and civil engineering construction. While Latinos comprise nearly 1/3 of construction jobs, they are more likely to be in lower-wage labor positions.
Employers in the United States added 227,000 jobs last month. These figures are the latest numbers the Depart of Labor issued in their monthly employment report. The unemployment rate ticked up slightly from 4.7% in December to 4.8% in January. Latino unemployment kept steady at 5.9%.
Our latest Latino Jobs Report, shows that participation in the labor force, however, did increase for all workers. Translation: people who were previously not in the labor force are now returning to it. The rate of Latino worker labor force participation stands at 66.1%, the highest of all other racial and ethnic groups
By Amelia Collins, Policy Analyst, NCLR
Photo: Roman Boed
Starting this week, the 115th Congress began work dismantling public protections for American workers, consumers, and families. NCLR has a history of being active in the regulatory process with significant success. This includes a final overtime rule that will benefit two million Latino workers, and a rule ensuring that retirement advisors make decisions in their client’s best interest. These rules will help millions of Latinos and other workers get more for their hard work.
So why would Congress want to eliminate these and other crucial protections? Well, some say that regulations cost the economy jobs and stymie growth. However, recent economic trends suggest otherwise:
- The economy is on a record of 75 consecutive months of job growth.
- Unemployment is down to 4.7% from a pre-recession peak of 10%, and wages are rising.
- Median household income increased in 2015 and poverty rates fell, with the Latino poverty rate being the lowest since 2006.
The national unemployment rate fell from 4.9% in October to 4.6% in November, the lowest it has been since 2007. says the Department of Labor in it’s monthly jobs report. Last month, 178,000 jobs were added, which is likely due to modest job growth and more than 400,000 people leaving the work force.
Today, the U.S. Department of Labor reported that U.S. employers added 161,000 jobs in October 2016. While this is lower than the 175,000 new jobs economists had predicted, it is enough to absorb new workers coming into the labor force.
The national unemployment rate fell from 5% in September to 4.9% in October. For Latinos, the unemployment rate decreased to 5.7%.
Read more in our latest Latino Jobs Report.