The U.S. Department of Labor reported today that U.S. employers added 255,000 jobs in July 2016, far exceeding many economists’ estimation of 180,000 jobs created for the month. The national unemployment rate remained the same at 4.9%, and the Latino unemployment rate decreased by 0.4 percent, from 5.8 percent in June to 5.4 percent in July.
According to the United States Department of Labor, the American economy added 215,000 jobs in March. February saw the addition of 245,000 jobs, which led to some discouragement. The national unemployment rate rose slightly to 5 percent, following a four-month decline, while Latino unemployment rose to 5.6 percent.
Among all sectors of the economy, the retail sector saw the greatest growth in March, adding 48,000 jobs. Latinos make up a greater share of retail employees compared to their representation in the total workforce.
NCLR’s final Latino jobs report for 2015 was released today, highlighting continued job growth across the country. In December, 292,000 jobs were added, a welcome surge to ring in the New Year. Job growth was strongest in construction, where nearly 45,000 jobs were added in December alone, offering Latinos significant economic opportunities. Hispanics currently account for a full third of all construction workers in the United States.
While the addition of nearly 300,000 jobs is a good indicator that the American economy continues to grow, the overall unemployment rate has remained unchanged at 5 percent for the last three consecutive months. Unemployment among Latinos also remained virtually unchanged at 6.3 percent, down from 6.4 percent in November and October. Because Latinos are more likely to hold low- and poverty-wage jobs, they are disproportionately affected by wage stagnation. Despite the Federal Reserve’s estimates of a 3.5 percent growth in wages in 2015, actual wage growth for the year peaked at just 2 percent.
While we are happy to see a strong month of job growth close out 2015, problems such as wage stagnation must be addressed in order for our community to feel the full effects of our nation’s economic recovery.
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It’s the first Friday of the month, which means the federal government has released unemployment figures for the past month. It also means it’s time for the Latino Jobs Report.
The unemployment rate, at 5.4 percent, didn’t change very much, but 223,000 jobs were filled in April. Forty five thousand of those were construction jobs that Latinos took. See the whole report below for a complete picture of Latino employment in the United States.
New employment numbers from the Department of Labor are out today and they show a slowdown in growth for March.
See the latest figures in our March Latino Jobs Report.