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The Obama Economy: Wrong For Hispanics

- October 2, 2013

Since Obama Took Office, The Number Of Unemployed Hispanics Has Increased By 125,000, With Over 2.3 Million Unemployed. (Bureau Of Labor Statistics, Accessed 10/2/13)

  • The Hispanic Unemployment Rate Is 9.3 Percent, Significantly Above The National Unemployment Rate Of 7.3 Percent. (Bureau Of Labor Statistics, Accessed 10/2/13)
  • Since Obama Took Office, The Hispanic Labor Force Participation Rate Has Declined From 67.8 To 66.3. (Bureau Of Labor Statistics, Accessed 10/2/13)

Under Obama’s Sluggish Recovery, Hispanics Have Lost A Disproportionate Share Of Their Wealth When Compared To Non-Hispanics. “Millions of Americans suffered a loss of wealth during the recession and the sluggish recovery that followed. But the last half-decade has proved far worse for black and Hispanic families than for white families, starkly widening the already large gulf in wealth between non-Hispanic white Americans and most minority groups, according to a new study from the Urban Institute.” (Annie Lowrey, “Wealth Gap Among Races Has Widened Since Recession,” The New York Times, 4/28/13)

All In All, Hispanic Families Lost 44 Percent Of Their Wealth In Recent Years. “All in all, Hispanic families lost 44 percent of their wealth between 2007 and 2010, the Urban Institute estimates, and black families lost 31 percent. White families, by comparison, lost 11 percent of their wealth. The economic turbulence worsened a gap that has persisted for as long as social scientists have measured it, and has its roots in institutional racism, they said, which, for instance, prevented black Americans from benefiting fully from the G.I. Bill back in the 1940s and 1950s.” (Annie Lowrey, “Wealth Gap Among Races Has Widened Since Recession,” The New York Times, 4/28/13)

From 2011 To 2012, Median Income For Hispanics Declined From $39,430 To $39,005. (Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2012,” U.S. Census Bureau, 9/17/13)

  • Hispanics Are The Only Demographic For Which Median Income Declined From 2011 To 2012. (Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2012,” U.S. Census Bureau, 9/17/13)

From 2011 To 2012, The Number Of Hispanics In Poverty Increased From 13.2 Million To 13.6 Million, And Were The Only Demographic For Which Poverty Increased During These Years. (Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2012,” U.S. Census Bureau, 9/17/13)

  • Under Obama, 2.6 Million More Hispanic Americans Have Fallen Into Poverty. (Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2012,” U.S. Census Bureau, 9/17/13; Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2008,” U.S. Census Bureau, 9/09)

The Washington Post’s Ezra Klein: “Unemployment Among Teenagers, African Americans And Hispanics Remains Insane.” “Unemployment among teenagers, African Americans and Hispanics remains insane. Among teenagers, the unemployment rate is 22.7 percent; for African Americans, it’s 13 percent; for Hispanics, 9.3 percent. And remember, those numbers only count people actively looking for work. Many others would like work but have stopping hunting. In these communities, then, the job market is somewhere between an awful recession and a severe depression.” (Ezra Klein, “The Five Worst Things About This Crummy Jobs Report,” The Washington Post’s WonkBlog, 9/6/13)

  • Klein: “In These Communities, Then, The Job Market Is Somewhere Between An Awful Recession And A Severe Depression.” (Ezra Klein, “The Five Worst Things About This Crummy Jobs Report,” The Washington Post’s WonkBlog, 9/6/13)

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