Hispanic unemployment rose dramatically in 2020 says Pew Research Center’s Mark Hugo Lopez

Mark Hugo Lopez, global Immigration and demographic research director at the Pew Research Center, said during a session of the Hispanic Leadership Summit that Hispanic unemployment rose dramatically in 2020. By April this year it had reached 18.5 percent, according to U.S. Labor Statistics, the highest recorded among ethnic groups in the U.S. and the most severe in the last two decades. And though the rate has dropped to 11.2 percent, it continues to be higher than any figures recorded before the pandemic. The situation has had an impact on Hispanic homes, Lopez noted. Six out of every 10 Latino adults say they or people in their homes have lost their jobs or have had an income reduction due to Covid-19. Some 41 percent have lost their jobs, 51 percent have suffered salary cuts, and 61 percent said that at least someone in their homes lost their jobs or had salary cuts. “This is a higher percentage than any other ethnic group in the U.S. has suffered,” he said. Lopez listed Latinos´ greatest financial concerns due to the pandemic: 57 percent, not being able to pay their bills; 51 percent, accumulated debt; 50 percent, healthcare costs; 48 percent, salary cuts for fewer hours worked or the demands of their jobs (58 percent women vs. 40 percent men); 48 percent, not being able to save for retirement; and 45 percent, losing their jobs (54 percent women vs. 37 percent men).