{"id":6946,"date":"2023-11-04T10:45:45","date_gmt":"2023-11-04T10:45:45","guid":{"rendered":"https:\/\/demo5.dedicatedhost247.com\/zexo\/unemployment-among-hispanic-workers-rises-at-faster-pace-in-october-than-overall-rate\/"},"modified":"2023-11-04T10:45:45","modified_gmt":"2023-11-04T10:45:45","slug":"unemployment-among-hispanic-workers-rises-at-faster-pace-in-october-than-overall-rate","status":"publish","type":"post","link":"https:\/\/demo5.dedicatedhost247.com\/zexo\/unemployment-among-hispanic-workers-rises-at-faster-pace-in-october-than-overall-rate\/","title":{"rendered":"Unemployment among Hispanic workers rises at faster pace in October than overall rate"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107222278\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>People walk through downtown Manhattan in New York City on Dec. 2, 2022.<\/p>\n<p>Spencer Platt | Getty Images News | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The labor market showed greater deterioration for Hispanic workers, whose unemployment rate rose more than that of the U.S.&#8217;, according to data released Friday by the\u00a0<a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\" target=\"_blank\" rel=\"noopener\">Department of Labor.<\/a><\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2023\/11\/03\/jobs-report-october-2023-us-payrolls-increased-by-150000-in-october-less-than-expected.html\">The overall unemployment rate rose 0.1% to 3.9% last month<\/a>, the highest level since January 2022, against expectations that it would hold steady at 3.8%. Among Hispanic Americans, the jobless rate rose 0.2% to 4.8%.<\/p>\n<\/div>\n<div class=\"InlineImage-imageEmbed InlineImage-inlineInfographic\" id=\"ArticleBody-InlineImage-107328533\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\" style=\"padding-bottom:153.84615384615384%\">\n<div><button class=\"InlineImage-closeEnlargedImage\"><svg width=\"20\" height=\"20\" viewbox=\"0 0 20 20\" fill=\"#002F6C\" aria-labelledby=\"title desc\" role=\"img\" focusable=\"false\" data-analytic-id=\"expand-icon\" class=\"InlineImage-background\"><title>Zoom In Icon<\/title><desc>Arrows pointing outwards<\/desc><circle cx=\"10\" cy=\"10\" r=\"10\" fill=\"white\" stroke=\"#002F6C\"\/><path d=\"M9.20185 10.7982C8.96049 10.5568 8.57037 10.5568 8.32901 10.7982L5.67901 13.4482V11.2346C5.67901 10.8938 5.40308 10.6173 5.06173 10.6173C4.72037 10.6173 4.44444 10.8938 4.44444 11.2346V14.9383C4.44444 15.279 4.72037 15.5556 5.06173 15.5556H8.76543C9.10679 15.5556 9.38271 15.279 9.38271 14.9383C9.38271 14.5975 9.10679 14.321 8.76543 14.321H6.55185L9.20185 11.671C9.44321 11.4296 9.44321 11.0395 9.20185 10.7982ZM14.9383 4.44446H11.2346C10.8932 4.44446 10.6173 4.721 10.6173 5.06174C10.6173 5.40248 10.8932 5.67903 11.2346 5.67903H13.4481L10.7981 8.32903C10.5568 8.57038 10.5568 8.96051 10.7981 9.20187C10.9185 9.32224 11.0765 9.38273 11.2346 9.38273C11.3926 9.38273 11.5506 9.32224 11.671 9.20187L14.321 6.55187V8.76545C14.321 9.10619 14.5969 9.38273 14.9383 9.38273C15.2796 9.38273 15.5556 9.10619 15.5556 8.76545V5.06174C15.5556 4.721 15.2796 4.44446 14.9383 4.44446Z\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Black Americans, the group with the highest jobless percentage in America, saw their unemployment rate tick up 0.1% to 5.8% last month. The record low for Black unemployment is 5.4% in October 2019.<\/p>\n<p>&#8220;When averages tick downwards, there&#8217;s often larger movement at the bottom end of the wage distribution,&#8221; Julia Pollak, ZipRecruiter&#8217;s chief economist, told CNBC. &#8220;Low-wage workers, less-educated workers and those facing barriers to employment suffer the brunt of any slowdown in the labor market.&#8221;<\/p>\n<p>Black and Hispanic Americans were hit particularly hard by the business shutdowns in the depths of the Covid-19 pandemic, with the unemployment rate for Black workers peaking at 16.8% in 2020 and the Hispanic jobless rate surging as high as 18.8%. The overall unemployment rate hit a high of 14.7% in April 2020.<\/p>\n<\/div>\n<div class=\"group\">\n<p>Asian Americans, while having the lowest jobless rate among different demographic groups, saw the biggest percentage increase in unemployment. The rate rose 0.3% to 3.1% in October.<\/p>\n<p>The Federal Reserve, which has a dual mandate that includes full employment, has deliberately tried to slow the economy to tackle inflation. Fed Chair Jerome Powell said earlier this week that slower growth and a softer labor market are <a href=\"https:\/\/www.cnbc.com\/2023\/11\/01\/fed-meeting-today-live-updates-on-november-fed-rate-decision.html\">still &#8220;likely&#8221; needed to tame price pressures.<\/a><\/p>\n<p>The participation rate for Hispanic workers declined to 66.9% last month from 67.3% in September. Overall, the labor force participation rate declined slightly to 62.7%, while the labor force contracted by 201,000.<\/p>\n<p><strong>Don&#8217;t miss these stories from CNBC PRO:<\/strong><\/p>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>People walk through downtown Manhattan in New York City on Dec. 2, 2022. Spencer Platt | Getty Images News | Getty Images The labor market showed greater deterioration for Hispanic workers, whose unemployment rate rose more than that of the U.S.&#8217;, according to data released Friday by the\u00a0Department of Labor. The overall unemployment rate rose [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[49],"tags":[1541,642,7727,217,184,199,63,10513,10512,186,10122,183,5164,10399,1583,736,185,236,187,2088],"jetpack_featured_media_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107222278-1681081682147-gettyimages-1446299409-dscf2270_570bbf03-74e6-42fd-9ae7-d6b100c1e81f.jpeg?v=1699031558&w=1920&h=1080","_links":{"self":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/posts\/6946"}],"collection":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/comments?post=6946"}],"version-history":[{"count":0,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/posts\/6946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/media\/6947"}],"wp:attachment":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/media?parent=6946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/categories?post=6946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/tags?post=6946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}