As the nation's unemployment rate dipped to a 50-year low in February, official data from the Bureau of Labor Statistics show that Hispanics and other minorities have been among the greatest beneficiaries of the booming economy of the Trump presidency.

Hispanics and African Americans are thriving

A review of the BLS statistics shows that the Hispanic labor force participation rate, which measures the percentage of all people of working age who are employed or are actively seeking work, reached 68.1% in February, the highest in a decade. The last time that such a large share of Hispanics were participating in the workforce was in March 2010. As this happened, the unemployment rate among Hispanics remained at a near all-time low of 4.4%.

This marks a significant improvement since the years under former president Barack Obama when the Hispanic labor force participation rate averaged 66.5% over eight years and hit a low of 65.3% in Sept. 2015.

The labor statistics also point to black Americans flourishing under the Trump presidency. In February, for instance, the unemployment rate among African Americans was 5.8%, near August's record low of 5.4%. Meanwhile, the black labor force participation rate hit 63.1%, the highest since Jan. 2009.

As with the improvements for Hispanics, the increase in the African American workforce participate was a significant improvement since the Obama presidency when it averaged 61.6% over eight years and was as low as 60.3% in Dec. 2013.

Trump touting successful economy

President Trump has been enthusiastic in promoting his economic record as he heads to re-election in November. At a speech before a national Hispanic business group on Thursday, the president emphasized the gains made by Latinos during his presidency.

"You're having the best year you've ever had. I have to say that. Last year was your best, and we're beating it this year," Trump told the Latino Coalition, a nonpartisan pro-business organization.

"With the hard work, love and devotion of millions of incredible Hispanic Americans, our country is thriving, our people are prospering and our future has ever — really never looked better than it does right now," he added, according to The Hill.

Last month the Trump campaign also announced that it would be opening field offices in 15 African American communities throughout the country. The goal is to engage the president's black supporters expand GOP outreach into African American communities.

"We see the numbers coming up in the polls and the demand on the ground when we do these types of events, so it's really important that we take this next step and really bring those voters into the party," Katrina Pierson, a senior Trump campaign adviser, said.