Confession of ignorance

So, I just read this article that talks about the different ways that the concept of free speech is handled in the U.S. and in Canada, with Canada being much more like the rest of the planet in advocating for limited free speech.

In particular, hate language is illegal.

If I felt we could actually trust the courts and the government to prosecute hate speech in a responsible manner, I'd probably fall a bit closer on the European/Canadian spectrum. I don't trust them, however, and so I end up in the "absolute free speech" camp.

And yet, what I don't understand is how first amendment rights merge with slander and libel laws. It seems to be that some of the statements made in the magazine in question (what, you haven't read the article yet? Go read it and then come back here) would be considered libelous. Does libel only count if you specify a particular person, as opposed to an entire religion or race?

I honestly don't know, but it does seem odd to me that you can't say true things about an individual that damage their reputation but you can say untrue things about a community that damages their credibility, standing, and even safety.

Or is my understanding of the libel and slander laws woefully shoddy?