The U.S. unemployment rate held steady in September, but ticked down among Hispanic workers, data from the U.S. Labor Department revealed Friday.
Broken down, it dipped to 4.3% from 4.4% among Hispanic women and held steady at 4.3% for Hispanic men.
The combination of a downtick in unemployment and increase in labor force participation is a"best of both worlds" scenario for the group, according to Michelle Holder, associate economics professor at John Jay College in New York."Latinos – with this report —fared pretty well, and job growth in leisure and hospitality could explain part of that," she said, noting that this population tends to be overrepresented in that sector.
"It speaks to the resilience of the labor market," she said."Even in the face of rising interest rates, to be able to stay strong, and have it stay strong for so long that you're really pulling in many historically marginalized groups back into the labor market."
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