Hispanic Youth Unemployment Rate Jumps to 35 Percent

The unemployment rate for young Hispanics nationwide increased by an astounding 9 percent from May to June according to a new report released by the United States Department of Labor.

The jobless rate for this growing sector is a whopping 35 percent for the month of June. Hispanics between 16 to 19 years of age represent only a small fraction of the American workforce but nearly half are without a job.

11 percent of Hispanic women over the age of 20 are unemployed and for men in the same age bracket the numbers dip to 9.8 percent, which is closer to the national average of 9.2 percent.

For the month of June the national unemployment rate for Hispanics is still a healthy 11.5 percent, a 4 percent increase from the month of May. Economist’s state that the rise in the number of Americans who are without a job may be attributed to a rise in energy prices and the drain that natural disasters have had on federal and state resources.

Last year the jobless rate for Hispanics in the state of Florida was 13.6 percent, a full two percent increase from 2009.

Unfortunately the U.S. Bureau of Labor Statistics does not publish monthly state unemployment rates for Hispanics as the sample size is too small according to an agent with Bureau.

But in regards to why so many Hispanics are unemployed the information isn’t as clear. Hispanic economist Louie Rodriguez-Feliu states that high oil and gas prices are to blame for the up-tick in unemployment but immigration laws are also making it harder for Hispanics to find work.

“The rise in the hourly wage also is to blame as Hispanics are in a melting pot of equal opportunity employers. The wage act of Cobra and other immigration laws are making it harder in the working place, as employers are more conscientious,” said Mr. Rodriguez-Feliu.

He also said that within the Hispanic community there is a propensity to consume and that small Hispanic businesses are having a hard time growing even though the Gross National Product is continuing to expand, albeit at a painstakingly slow pace.

For many Hispanics and minorities the recession continues to linger. Unemployment has grown exponentially for young people and the so-called lower middle class continues to take a beating.

Former Obama Administration Director of White House National Economic Council Larry Summers states that America is still in the throws of a jobs deficit. Only 18,000 jobs were added in the month of June and more than 14,000 federal employees lost their jobs during past month.

These dismal employment numbers coupled with Republicans and Democrats bickering over the debt ceiling are doing nothing for consumer confidence in our economy and in our government.

If the economy stalls or crawls any slower then unemployment numbers will continue to rise and Hispanics and minorities will see double digit job loss numbers again.

Hispanics represent the majority minority within the state of Florida and their spending power continues to grow and affect influence on the business community. If unemployment numbers for Hispanics get worse then the Florida economy will continue to suffer.

-JH