Monthly Latino Employment Report Issued November 8, 2013
Young Latinos in the Workforce Recent Facts and Figures As the fastest-growing segment of the workforce, characterized by its youthfulness, Latinos are expected to double their share of the American labor force from 15% to 30% by the year 2050.1 Given their importance to the nation’s future prosperity and global competitiveness, young Latino workers are an important subgroup to monitor in this post-recession era. This Monthly Latino Employment Report is an update to the December 2011 report on young Latinos in the workforce.
Latino Employment Statistics for October 2013 The latest report from the U.S. Department of Labor shows that U.S. employment increased by 204,000 workers in October 2013, surpassing the annual average growth rate of 190,000 jobs per month. As Table 1 shows, the unemployment rate was unchanged at 7.3% overall and 9.1% for Latinos. The effects of the 16-day government shutdown, which ended on October 16, are visible in the 448,000 person increase in individuals who were unemployed due to temporary layoff. The White House Council of Economic Advisors estimates that the U.S. economy lost 120,000 jobs as a result of uncertainty, lower production and consumption, and slower job creation related to the shutdown and political brinksmanship over the federal debt limit.2
Table 1. The Employment Situation for Latino Workers in October 2013 Indicators
Latinos, October 2013
Employed—Working people over the age of 16, including those temporarily absent from their jobs
22.6 million
Unemployed—Those who are available to work, make an effort to find a job, or expect to be called back from a layoff but are not working
2.3 million
Civilian Labor Force—The sum of employed and unemployed people
24.8 million
Not in the Labor Force—People over the age of 16 classified as neither employed nor unemployed
13 million
Unemployment Rate—Share of the labor force that is unemployed
9.1%
Labor Force Participation Rate—Share of the population over the age of 16 that is in the labor force
65.6%
Employment-Population Ratio—Share of the population over the age of 16 that is working
59.7%
Source: U.S. Bureau of Labor Statistics, “Employment Status of the Hispanic or Latino Population by Sex and Age,” Current Population Survey. http://www.bls.gov/webapps/legacy/cpsatab3.htm (accessed October 22, 2013), Table A-3.
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