Hispanic Unemployment Down, Study Finds

Yet the labor landscape was not all rosy for Latinos. Although they landed more jobs, wages dropped for foreign-born Hispanic workers. Hispanic immigrants' median weekly wages declined from $400 to $389.

That is probably because as more immigrants have arrived, competition for the jobs they perform has stiffened, Kochhar said.

"High growth in employment may have come at the price of wages," Kochhar said.

The report also noted that the nation's construction industry appears to be slowing. That is especially true in places such as the Washington region, which were booming a year ago but are now "screeching to a halt," said Mark Zandi, an analyst with Moody's Economy.com.

Growth in commercial construction is softening the blow for workers, Zandi said, but will probably not make up for all the jobs lost as home building cools.

Carballo said he has seen that play out locally.

"On the residential part, like houses and condominiums, that's where I see that it's the most people getting laid off," Carballo said. "On [commercial] buildings, we are at least pretty good right now. Buildings are going up everywhere."

The report, based on recent data from the U.S. Census Bureau and the Labor Department, found that unemployment dropped over the fiscal year from 4 percent to 3.5 percent for Asians, from 4.1 percent to 3.9 percent for non-Hispanic whites and from 9.9 percent to 9 percent for blacks.