Hispanic Americans lose faith in Bidenomics

Hispanic Americans (Hispanics with US citizenship) have said "enough!" to Bidenomics. The economic data for May once again show that this community and the rest of ethnic minorities are the most affected by the White House's economic policies. Especially because of unemployment, which reached 4% (5% among Latinos) again last month, its highest level in two years.

Bidenomics "is failing"

In a statement, the Bienvenido organization noted that this report "confirms what many Americans have been feeling for months: the Biden Administration's economic policies are failing." Some especially clear data if you look at the U6 rate (which includes the totally unemployed - those who are actively looking for work and the 'discouraged' who after 12 months have given up on finding a job -, plus all people marginally linked to the active population and part-time workers due to unfavorable economic conditions and who cannot opt for something better), which reached 7.4%. This is the highest figure since November 2022, when it was 7.7%.

This is something that especially affects ethnic minorities, particularly the black community (6.1% unemployment) and Hispanic Americans (5.0%). Veterans, Asians and workers without higher education are also having difficulty finding work. The economic deterioration, which has been a constant since Biden's arrival in the White House, is accelerating in recent months. In fact, from the Bienvenido organization they point out that the 272,000 jobs created in May "falls short of the growth needed to sustain a robust recovery." As if that were not enough, the data for March and April were revised downwards.

The largest decline in full-time work since 2023

Additionally, last month saw the largest decline in full-time employment since December 2023. This indicates "a troubling trend towards unstable, part-time work" notes the Hispanic American organization. Foreign-born workers, especially illegal immigrants, are also perceived to have found the most employment. By contrast, Native American workers suffered a significant loss of 663,000 jobs.

Thus, Bienvenido denounces that "these statistics paint a stark picture of an economy that is not working for the American people. Under Bidenomics, families are struggling with soaring housing costs, surging electric bills, and high gas prices. The data is clear: the current administration's policies are failing to deliver the economic stability and growth that Americans need and deserve."

The organization Bienvenido denounces the serious impact of Bidenomics on Hispanic Americans

The president of the organization, Abraham Enríquez, noted that "this jobs report highlights the severe impact of President Biden’s economic policies on Hispanic Americans and other communities. Hispanic Americans are losing faith in Bidenomics because it is not delivering for them. From rising unemployment rates to the alarming loss of full-time jobs, it’s clear that we need a change in policies to restore economic prosperity and stability.