Hispanic Workers Leading Recovery

News in 2020 seems too often to be like a lightning strike out of the clear blue sky at sunset at high tide…

But this is great news!

As the Unemployment Data chart of national Bureau of Labor Statistics show, that while the economy has gained over 11 million jobs in the last four months following the staggering loss of 20 million paychecks during the first month of the shutdown, the minority demographic that has fared best are Hispanics who for the first time have beaten out Asians for lowest unemployment rate.

While the unemployment rate for all groups is roughly 7.9% or roughly 70% higher than when the C-19 related shutdowns began, when looking at the three basic groups measure below, Asians, Hispanics, and African Americans, the group with the lowest unemployment are Hispanics at 10.5% versus Asians at 10.7% (African Americans in August had a roughly 13% unemployment rate).

Taking into account the already established September figures that manufacturing and career building industries led the hiring show that the economic recovery is broad and as the economy was functioning before the emergency, this recovery is including everyone.