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Mortgage Fallout Affects Immigrant Workers

14:30 H | Topics: Immigration - Labor - Mexico - Society

While the mortgage fallout has some having to give up their homes, it has others having to give up their jobs. An overwhelming number of Latino immigrant workers labor in the construction field, and given the decrease in the number of new construction going up, jobs are disappearing. A new study by the Pew Hispanic Center shows that immigrants are suffering the effects of the country's ailing economy as much -- or more -- than everyone else:

The analysis by the Pew Hispanic Center shows the unemployment rate for Latino immigrants was 7.5 percent in the first three months of this year, compared with 6.9 percent among Latinos born in the United States. During the same period in 2007, the rates were 5.5 percent and 6.7 percent, respectively.

Latinos lost nearly 250,000 jobs over the past year because of the recent slump in the construction sector, the report states.

For several years, construction was a mainstay of job growth for Latino workers, especially immigrants.

"Having become somewhat dependent on this industry, (Latino workers) were more vulnerable to the downturn," said Rakesh Kochhar, Pew's associate director for research.

Mexican immigrants were the hardest-hit group, with their unemployment rate jumping from 5.5 percent last year to 8.4 percent, according to the report issued last week.

I wonder what the long term of effects of this will be. Immigrants -- for instance Mexican immigrants -- will have a hard time returning to Mexico given the sky high inflation and unemployment rates there. But then again, if things continue as they are here, the situation will become unsustainable on this side of the border as well. Will they stay or will they go?

Via / The Sun

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