After the Labor Department released November unemployment numbers, the president’s daughter Ivanka Trump and senior White House advisor took to Twitter to announce the statistic Friday morning. The Latino unemployment rate fell to 4.7% from 4.8% last month, the lowest it has ever reached in the United States.
Latino unemployment rate is now significantly lower than the 13%, where it was during the post-recession peak. “The Administration and @realDonaldTrump are working hard to create opportunities for all Americans,” Ivanka Trump posted. “…and we are just getting started!”
The Hispanic unemployment rate dropped to 4.7% – the LOWEST in the history of the United States. This Administration and @realDonaldTrump are working hard to create opportunities for all Americans…and we are just getting started! 🇺🇸 #MAGA #JobsReport https://t.co/MvPOrIqdXI
— Ivanka Trump (@IvankaTrump) December 8, 2017
It’s worth mentioning that some of the declines might be due to fewer people actively looking for work recently due to either retiring, going back to school or raising kids. Still, this is undoubtedly good news for the Hispanic community, who makes up 17% of the U.S. labor market.
Even as some remain concerned about what will happen to them under Donald Trump, who has made cracking down on illegal immigration one of his priorities and has repeatedly spoken in a jeering manner about Mexicans, Latinos see an improvement job-wise.
Despite tending to show more optimism over their financial situation and in believing that their family’s economic circumstances will be better next year, more so than the general public, Latinos still have not fully recovered from the recession. Their homeownership rate currently stands at 46.1% when it was once 50.1%, lower than the general U.S. rate of 63.9%.
A significant difference of almost 2% exists between the unemployment rate of Latino men and women, which stands at 3.8% and 4.9% respectively. Still, there is no arguing that they are doing significantly better.
The unemployment rate for African Americans also lowered significantly post-recession. What used to stand at 16.8% is currently at a 7.3%. “It is positive to see that in all these cases the unemployment rates of minorities have gone down substantially,” said Urban Institute’s Robert Lerman.
For now, some might consider this a cloud’s silver lining.
This article was inspired by CNN MONEY // Hispanic unemployment at all-time low under Trump