Tuesday, October 12, 2010

Hispanics gained jobs over last year; non-hispanics lost jobs

The economy lost 95,000 more jobs in September, as state and local governments downsized at a faster rate than the private sector expanded. The drop was much larger than the 8,000 decline expected by economists and far outstripped the 57,000 lost in August.

As is so often the case the “other” employment survey, of households rather than companies, paints a very different picture. That survey reported 141,000 positions added in September on the heels of a 290,000 job pop in August.

People who work for small businesses, “off the books”, or who are self employed will show up in the Household Survey. That includes many illegal aliens.

V-DARE.COM’s American Worker Displacement Index (VDAWDI) rose to a record 127.0 in September as Hispanics gained jobs at nearly six times the rate of Non-Hispanics:

Total employment: up 141,000 (+0.10 percent)

Hispanic employment: up 68,000 (+0.34 percent)

Non-Hispanic employment: up 73,000 (+0.06 percent)

A few weeks ago Washington proclaimed that the Great Recession ended in June 2009. That call is based on GDP growth—which, although quite anemic, has been positive since then. For most of us ordinary Americans, however, GDP is an abstraction; employment is where it’s at.

Since the onset of economic “recovery” in June 2009 total employment has declined. Some lucky folks have bucked the trend:

For every 1,000 Hispanics employed in June 2009 there were 1,024 employed in September 2010

For every 1,000 non-Hispanics employed in June 2009 there were 991 employed in September 2010

Economic recovery may indeed be a reality for Hispanics, who are employed in greater numbers today than in June 2009. But for non-Hispanics, economic recovery remains a rumor.

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