The unemployment rate of Hispanics living in the United States went down a tenth in August regarding the previous month and reaching a 10.2 percent; the national rate is 8.1 percent, according to the Bureau of Labor Statistics (BLS).
The institution calculates that from a Hispanic community of 36.9 million, last month 2.5 million were unemployed.
The overall unemployment rate in the US has been over 8 percent for 43 consecutive months, as the republican presidential candidate Mitt Romney was quick to point adding that President Obama's policies "don't work."
Last month the economy had a net gain of 96,000 jobs, well below the 130,000 the analysts were expecting.
In the public sector 7,000 jobs were lost but the private segment created 103,000 keeping the slow-but-sure growth trend going up for the last months.
Department of Labor Secretary, Hilda Solís, remembered that when Obama arrived to the White House back in January of 2009, the economy "was on a free fall, the credit markets were almost frozen and the country was losing 700,000 jobs each month."
"Just in the last 30 months we have recovered 4.6 million of jobs in the private sector, almost two million just this last year," said Solís.
The decrease in unemployment rate for August is in part due to approximately 368,000 people stopping their job hunt and thus not appearing in statistics.
Even so, the financial markets had a positive reaction to the unemployment data because it increases the possibility of the Federal Reserve once again activating economic stimulus measurements.
During his speech on July 31 at the central bankers meeting in Jackson Hole (Wyoming), the Federal Reserve president Ben Bernanke, said that "the stagnation of the working market is a cause of serious concern."
The trend of high rates of unemployment, he added, "will cause our economy harm that could last for many years."
Since 2008, the Federal Reserve has performed two rounds of debt buying to inject money in the system.
The first, between 2008 and 2010, meant buying 1.25 billions of dollars in mortgage titles and 175,000 million dollars in debts of federal agencies in addition to 300,000 million in Treasury bonds.
The second round, between 2010 and 2011, the Reserve bought 600,000 million dollars in Treasury bonds.
In August the manufacturing sector had a net loss of 15,000 jobs, the biggest monthly decrease in two years and the temporary employment agencies eliminated openings for the first time in five months. Motor vehicles' manufacturers cut 7,500 jobs last month.
On the other hand, the service sector had a net gain of 119,000 jobs and contractors added 1,000 more while retailing created 6,100 jobs according to the BLS report.
This report indicates that last month the average hourly pays kept unchanged at $23.52; in one year they have increased by 1.7 percent.
The job creation went down from an average of 226,000 work positions a month in the first trimester to a monthly average of 73,000 between April and June.
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