Apr 11, 2017

The Latino unemployment rate nears all-time low

Susan Walsh/AP

The job market for latino workers has rarely been better, with the unemployment rate for that group hitting 5.1% in March, just shy of its 2006 low of 5.0%.

Why it matters: Minority groups tend to disproportionately be hurt by recessions, and disproportionately benefit when the economy is at full employment. That means that these groups stand to benefit the longer Janet Yellen and the Fed maintain stimulative monetary policy, and the more the federal government spends on job-creating initiatives like infrastructure.

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Data: Bureau of Labor Statistics and author's calculations; Chart: Andrew Witherspoon / Axios

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Unemployment fell to 50-year low in 2019 but wages stagnated

Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals

Friday's jobs report missed expectations, but still delivered solid numbers, showing the U.S. economy added well over 100,000 jobs and the unemployment rate remained near a 50-year low.

The big picture: BLS reported that the number of people who were employed part time but would rather be full-time employees declined by 507,000 over the year.

An unsettling future for millions of American jobs

Illustration: Aïda Amer/Axios

The U.S. economy is besting expectations for job growth, and the unemployment rate is at its lowest in several decades — but the other side of the story is that millions of jobs out there just aren't good enough.

Why it matters: Almost half of all American workers are stuck in low-wage jobs that often don't pay enough to support their lives, lack benefits and sit squarely inside the automation bullseye.

Wages for typical workers are rising at their fastest rate in a decade

Construction workers holding a rally in the Bronx. Photo: Erik McGregor/LightRocket via Getty Images

Wages for nonsupervisory employees — who make up 82% of the workforce — are rising at the fastest rate in more than a decade, the Wall Street Journal reports.

Why it matters: It indicates that the benefits of a tightening labor market and a time of historically low unemployment rates are finally being passed along to most workers.

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