November 2, 2012

Latinos Express Growing Confidence In Personal Finances, Nation’s Direction

IV. Changing Economic Condition of Latinos

The employment situation of Latinos has improved since the end of the Great Recession in June 2009. The Hispanic unemployment rate declined from 12.7% in the third quarter of 2009 to 9.9% in the third quarter of 2012. Declines have occurred for whites and blacks as well.

Poverty rates for Latinos have also declined recently. According to the U.S. Census Bureau, the Hispanic poverty rate was 25.3% in 2011, down from 26.5% in 2010 (DeNavas-Walt, Proctor and Smith, 2012).

Not all economic indicators show an improving picture for Hispanics. According to the Census Bureau, median household income for Hispanics was statistically unchanged between 2010 and 2011. By contrast, median household income fell for both blacks and whites between 2010 and 2011. For all U.S. households, median household income fell from $50,831 in 2010 to $50,054 in 2011.