The recent decline in the unemployment rate for Hispanic workers is much more notable than the changes in the national rates. In the areas of the labor market where Hispanic workers are overrepresented, such as the hospitality and construction industries, there have been large increases in those payrolls post-pandemic. However, these job gains have also been accompanied by a large withdrawal of many Hispanic workers from the workforce. This data indicates how many Hispanic workers are either trapped in low-wage industries or have left those industries in wake of the pandemic.
See "Recent fluctuations in the unemployment rate for Hispanic workers", Samantha Subin, CNBC, October 7, 2022