US Unemployment Rate Drops for Latinos
Last month, the U.S. saw its unemployment rate drop to its lowest level since before the recession in 2008 as it went down from 6.7 percent in March to 6.3 percent.
According to Fox News Latino, the recent jobs reports also revealed progress for Hispanic workers in the U.S. The unemployment rate among the Latino community dropped to a six-year low of 7.3 percent in April, the lowest since May 2008 when it was at 6.9 percent.
The nation's working Hispanic population saw its unemployment rate reach to as high as 12.9 percent.
Among the various ethnic communities in the U.S., unemployment rates for Hispanics and African Americans, whose current rate is at 11.6 percent, are usually higher than the national average.
In April, the U.S. also experienced its largest influx of jobs since 2012 as 288,000 positions were filled in several sectors including manufacturing, construction and engineering. The job creation rate for February and March, which brought in a combined 36,000 jobs, exceeded previous estimates from economists, according to Fox.
The manufacturing industry had 12,000 jobs created while construction jobs gained 32,000 positions and technical service jobs, such as accounting and engineering positions, had 25,100 jobs to fill.
The harsh winter weather slowed economic growth in the year's first quarter with a rate of just 0.1 percent, which was a major decrease from the 2.6 percent growth rate in the last quarter of the 2013.
Economists estimate that the growth rate will reach 3.5 percent in the second quarter of the year while growth is expected to reach roughly 3 percent by the end of 2014. In 2013, the economic growth rate only reached 1.9 percent.
Fox reported that consumer spending in March had skyrocketed with the help of more purchases of automobiles and items from shopping malls. The increase in consumer spending is attributed to incomes rising by 0.5 percent, which is the most since last August.
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