Hispanic unemployment rate dropped to a point not seen in nearly 50 years

While job creation for September fell to its lowest level in a year, the Labor Department figures, released Friday, find the unemployment rate hits the lowest level since December 1969, down two-tenths of a percentage point to 3.7 percent.

The U.S. Bureau of Labor Statistics reports the national seasonally-adjusted unemployment rate for Hispanics and Latinos (age 16 and up) in the U.S. labor force fell to the lowest level on record last month.

It was 4.5 percent, tying July 2018 for the lowest level since the BLS began tracking Hispanic-Latino employment data in 1973.

September 2018 employment statistics for Hispanic-Latino workers:

Unemployment rate: 4.5%, down from 4.7% in August

Number Employed: 27,059,000 up from 26,927,000 in August

Number Unemployed: 1,287,000, down from 1,315,000 in August

Labor Force Participation: 66.0%, up from 65.9% in August

Civilian Non-institutionalized Population (16+ years old): 28,346,000, up from 28,242,000 in August

Number Participating in Labor Force: 28,346,000, up from 28,242,000 in August

Gulf Coast Workforce Solutions Principal Economist Parker Harvey said local detailed demographic information on unemployment rates are not released on a monthly basis. In fact, the best data they have is from the American Community Survey and the most up to date is from 2016—which the unemployment rate among Hispanics was about 6.5 percent, as compared to 6.1 percent for everyone.

“The unemployment rate amongst Hispanics, at the national level—that low number that we’re seeing, is a reflection of the continued decline in overall unemployment rate for the population as a whole,” said Harvey.

He said it stands to reason the unemployment rate amongst Hispanics is likely fallen significantly, locally as well, although they won’t know for a couple of years.

"As of July this year, overall for our region, our unemployment rate sits at 4.1 percent, and that's the lowest it's been since August of 2007, before the great recession."

Artemio Muniz, chairman and co-founder of the Federation of Hispanic Republicans, said while he didn't vote for Trump, but...

“You’ve got to give credit where credit is due. If you have historically low numbers on unemployment, that’s something to celebrate. And, I think that’s something to emulate,” said Muniz. “If the economy is booming and you can pay your bills and you’ve got more money in your pocket, sometimes that is just as important.”

He said president's stance on immigration is tough to accept.

"Compared to the past administration, I think voters should think twice about voting for the other party," says Muniz.

LULAC and MALDEF did not respond back to interview requests.

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