The unemployment rate for Latinos rose to 9.1% in May even after U.S. economy added 175,000 jobs. Employers are hiring indeed, but the unemployment rate shows they are hiring at a steady pace. Labor Department said Friday in its monthly report, and the general U.S. unemployment rate rose to 7.6 percent from 7.5 percent in April. More and more people are in search of jobs which is a healthy sign in the economy. There is a reported 2.3 million Latinos unemployed, according to the Department of Labor monthly report.
The economy grew at a solid annual rate of 2.4 percent in the first three months of the year. Consumer spending rose at the fastest pace in more than two years. But economists worry that the steep government spending cuts and higher Social Security taxes might be slowing growth in the April-June quarter to an annual rate of 2 percent or less.
The unemployment rate for the Latino community increased from last year after cutting down on spending and raising taxes.
Picture by Lovelace Healthcare System