HispanicBusiness

WASHINGTON, Nov. 2, 2012 /PRNewswire-USNewswire/ -- Jennifer S. Korn, Executive Director of the Hispanic Leadership Network, released the following statement in reaction to the October jobs report released today by the U.S. Bureau of Labor Statistics.

"October's jobs report is proof positive that our economy - like the value of many of our homes - remains underwater with little movement. 23 million Americans are unemployed, underemployed, or have simply given up looking for work. The increase in the unemployment rate to 7.9% is simply unacceptable.

"For our community, the situation is even worse. The Hispanic unemployment rate went back up to 10% -- hitting the 45th month with double digit unemployment under this Administration. To add insult to injury, we now know that since 2008, there are 3.3 million more Latinos living in poverty.

"Where is the President's plan to foster job creation? As we struggle and try to succeed on our own, we continue to wait for an answer."

CONTACT: Sandra Pedroarias [email protected] Hispanic Leadership Network