US Hispanic unemployment rose 5.3% in July

Hispanic unemployment rises to 5.3%.

Increase of 141,000 unemployed

Hispanic women lead unemployment.

Unemployment among Hispanics in the United States saw a significant increase in July, according to information from EFE.

It reached 5.3%, as reported by the Bureau of Labor Statistics (BLS).

This increase of four-tenths positions Hispanics as the group most affected by current monetary policies.

These policies have been marked by the high interest rates imposed by the Federal Reserve.

A concerning unemployment trend among the Hispanic population

Hispanic unemployment – PHOTO: Shutterstock

The rise in the Hispanic unemployment rate reflects a worrying trend.

141,000 more people are unemployed compared to the previous month, totaling 1.7 million unemployed in this group.

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In June, the Hispanic unemployment rate was 4.9%, and a year ago, in July 2023, it stood at 4.5%, with 1.4 million unemployed.

These numbers reveal a year-over-year increase of nine-tenths, highlighting the vulnerability of the Hispanic community to current economic policies.

Meanwhile, unemployment among blacks remained stable at 6.3 percent, and among Asians it fell to 3.7 percent.

In the white population, however, the rate rose three-tenths, reaching 3.8%.

By gender, Hispanic women over 20 years old have experienced a significant jump in unemployment, going from 4.5% in June to 5.4% in July.

Hispanic men, on the other hand, saw a more moderate increase of two-tenths, from 4.2% to 4.4%.

Nationally, the overall unemployment rate increased by two-tenths, standing at 4.3%.

The total number of unemployed in the country rose by 352,000 people, reaching 7.2 million, the highest level since October 2021.

Despite these discouraging figures, the U.S. labor sector still shows signs of growth, although at a slower pace.

In July, 114,000 new jobs were created, a figure lower than the monthly average of the previous 12 months, which was 215,000.

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PHOTO: MundoNOW