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The Mirage Of Hispanic Job Growth
Article

The Mirage Of Hispanic Job Growth

The recession of 2008 reveals the financial vulnerabilities Hispanic families face. Loan defaults, home foreclosures, and personal bankruptcies are rising for everyone, but are likely to be much higher for Hispanics than others. The reason: Economic distress is quickly materializing for many Hispanics due to sharply higher unemployment rates. By the end of 2008, one year after the recession began, the unemployment rate for Hispanics hit 9.2 percent, compared to 6.6 percent for whites.

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The recession of 2008 reveals the financial vulnerabilities Hispanic families face. Loan defaults, home foreclosures, and personal bankruptcies are rising for everyone, but are likely to be much higher for Hispanics than others. The reason: Economic distress is quickly materializing for many Hispanics due to sharply higher unemployment rates. By the end of 2008, one year after the recession began, the unemployment rate for Hispanics hit 9.2 percent, compared to 6.6 percent for whites.

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Authors

Christian E. Weller

Senior Fellow

Amanda Logan

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