Tuesday, May 22, 2012

From 2007 (the year the recession started) to 2011, Latinos workers' wages in the state and local public sectors declined more than the wages of whites and African Americans

The median wage of Hispanic employees declined 5.2%, compared with a decline of 1.9% for African Americans, and 0.7% for whites. Just about everyone on Main Street has been hurt by the decline in the share of good jobs, but Hispanic men have been hit the hardest. From 1979 to 2008, the share of Hispanic men in good jobs declined 15.5%. For white and black men respectively, the declines were 12.8% and 9.3%. A third of Hispanic children are living in poverty, nearly three times the rate for white children. Since the start of the recession, Latino child poverty has increased the most of the major racial and ethnic groups. Hispanics lead in the share of workers earning wages that cannot lift a family out of poverty. In terms of benefits, Latinos are also in a dire situation. Hispanics have the lowest share of workers with employer-sponsored health insurance. Given that Latinos are underrepresented in good jobs that provide a retirement plan and overrepresented in jobs that do not provide enough for savings, it is not surprising that Latinos are very weak on measures of retirement security. The fact that Latinos have lost a significant amount of wealth over the recession does not improve the situation. This shows that the increasing diversity that we have seen in the United States thanks to Latino immigration has lowered wages for everyone including Hispanics.

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