The federal government announced on Friday that the unemployment rate for Hispanics in the United States fell to a record low in June. Currently sitting at 4.6 percent for June, the previous record of 4.8 percent was set during the George W. Bush years in October of 2006, Among African-Americans, joblessness rose slightly to 6.5 percent, while it is the second lowest unemployment rate for that cohort ever since the Bureau of Labor Statics began tracking it in 1972.
The American economy produced 213,000 new jobs in June, exceeding many analysts' predictions. Just as the unemployment rose slightly to 4.0 percent, the labor force participation rate also edged higher to 62.9 percent. The absolute number of unemployed rose to 6.6 million people, up nearly a half million.
Other evidence of a bullish labor market included the revised results for April and May that inched up by a total of 37,000, thus bringing the average for the past 90 days to 211,000. 50,000 new positions were added to the professional and business services sectors, while manufacturing employment rose by 36,000. The fabricated metals industry, a focus of President Trump's trade disputes with Europe and China, 7,000 new workers.