latino lingo

All things related to effective Hispanic marketing, Hispanic advertising and Hispanic public relations.

Tuesday, November 08, 2005

Hi ho, hi ho, it's off to work we go

Hispanic Business Magazine reports Hispanics gained 212,000 jobs in October and as a result Hispanic unemployment rate dropped to 5.8 percent in October from 6.5 percent in September, according to the U.S. Department of Labor. The overall U.S. unemployment rate also dropped, but only by 0.1 percent to 5.0 percent in October, thereby shrinking the Hispanic unemployment gap to 0.8 percentage points.

The article cites hurricane reconstruction as a factor for creating jobs that have been filled disproportionately by Hispanics, though the impact of this year's hurricanes have had less impact on labor markets than analysts have expected.

Interestingly, the report states that Hispanic men (20 years and over) tend to have the lowest rates of unemployment in the Hispanic population with a 4.4 percent unemployment rate in October (down from 4.8 percent in September).

According to the U.S. Census, the median income for Hispanic households was $34,241 in 2004, compared to Blacks with a median income of $30,134 (the lowest among race groups) and $48,977 for non-Hispanic white households.

Si somos trabajadores!

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