Hispanics and Asians are gaining jobs at a faster rate in the economic recovery than are blacks and whites, immigrants are outpacing the native born, and men are faring better than women.
The spread of poverty across the United States that began at the onset of the Great Recession of 2007-2009 and accelerated last year hit one fast-growing demographic group especially hard: Latino children.
For the first time since the official end of the Great Recession in June 2009, native-born workers in the second half of 2010 joined foreign-born workers in experiencing the beginnings of a recovery in employment.
In the year following the end of the Great Recession in June 2009, foreign-born workers gained 656,000 jobs while native-born workers lost 1.2 million. As a result, the unemployment rate fell for immigrants while it rose for the native born.
The flow of immigrants from Mexico to the United States has declined sharply since mid-decade, but there is no evidence of an increase during this period in the number of Mexican-born migrants returning home from the U.S.
The boom-and-bust cycle in the U.S. housing market over the past decade and a half has generated greater gains and larger losses for minority groups than it has for whites, according to an analysis of housing, economic and demographic data.
The current recession is having an especially severe impact on employment prospects for immigrant Hispanics.
Almost one-in-ten (9%) Latino homeowners say they missed a mortgage payment or were unable to make a full payment and 3% say they received a foreclosure notice in the past year.
A small but significant decline has occurred during the current recession in the share of Latino immigrants active in the U.S. labor force.
The current economic slowdown has taken a far greater toll on non-citizen immigrants than it has on the United States population as a whole.
Due mainly to a slump in the construction industry, the unemployment rate for Hispanics in the U.S. rose to 6.5% in the first quarter of 2008, well above the 4.7% rate for all non-Hispanics.
The long-term effects of the recession will likely depress employment and incomes in Hispanic communities at least through the end of 2004, and judging from historical experience that time span will be longer than for any other major population group. Even if predictions of a turnaround later this summer prove valid, pocketbook issues will vex Latinos for several years after the national economy recovers. Second-generation Latinos–U.S.-born children of an immigrant parent– are now experiencing high job losses. In recent recessions Hispanic unemployment has fallen hardest on low-skilled immigrants. This time, young people who are the products of U.S. schools are experiencing the highest unemployment rates among Latinos. Many work in skilled occupations, including managers, technicians and professionals, and many are in the early years of household formation. Prolonged joblessness could prove a historic setback for them, their communities and the nation.
The purpose of this paper is to examine the potential impact of the current economic downturn on Hispanic workers and families, and analyze how prepared Hispanics are for the economic recession. The paper is divided into four sections: The first section briefly explores the progress made by Hispanics during the economic boom of the 1990s. The second section uses the experience of Hispanics in past economic downturns to predict how they will fare in the current economic slowdown. The third section analyzes how well prepared Hispanic workers are for the economic slowdown. The final section draws conclusions based on the first three sections.
Currently there are nearly 35 million Hispanics in the U.S., making them the second-largest ethnic group in the country. But the effect of the current recession on this important group is unknown. Yet, it is unlikely that all Hispanics have been similarly affected by the recession. Hispanics are a varied group not just in terms of national origin, but also in terms of time in the U.S., ranging from newly arrived immigrants to U.S.-born Hispanics. This report examines how three generations of Hispanics have fared in September and October 2001, compared to September 2000 and September 1999.