Today, the U.S. Department of Labor reported that employers added 235,000 jobs in February, a hefty gain that far exceeded economists’ prediction of 190,000 jobs. Additionally, the national unemployment rate decreased by 0.1 percentage points to 4.7 percent. The U.S. Federal Reserve says that he low rate, which has stayed under 5 percent since April 2016 indicates our economy is at or near full employment.
The Latino unemployment rate dropped by almost half a percentage point to 5.6 percent last month. An increase in construction appears to have spurred Latino employment. The industry added 58,000 jobs with the most growth in specialty trade contractors and heavy and civil engineering construction. While Latinos comprise nearly 1/3 of construction jobs, they are more likely to be in lower-wage labor positions.
Read the whole report below:
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