Latinos Increasingly Confident in Personal Finances, See Better Economic Times Ahead
Yet many economic indicators show few gains for the community since the Great Recession
Hispanics Say They Have the Worst of a Bad Economy
A majority of Latinos believe that the economic downturn that began in 2007 has been harder on them than on any other ethnic group in America.
Hispanic Poverty Rate Highest In New Supplemental Census Measure
The poverty rate for Hispanics was 28.2% in 2010, higher than it was for blacks, non-Hispanic whites or Asians, and higher than the official poverty rate for Hispanics, 26.7%, reported by the Census Bureau.
Hispanic Household Wealth Fell by 66% from 2005 to 2009
The Toll of the Great Recession
Hispanics and the Economic Downturn: Housing Woes and Remittance Cuts
Almost one-in-ten (9%) Latino homeowners say they missed a mortgage payment or were unable to make a full payment and 3% say they received a foreclosure notice in the past year.
Hispanics and the Social Security Debate
Latinos have distinct demographic and economic characteristics that give them a unique stake in the debate over the future of Social Security.
The Wealth of Hispanic Households: 1996 to 2002
Hispanic households have less than ten cents for every dollar in wealth owned by White households.
New Lows From New Highs
The long-term effects of the recession will likely depress employment and incomes in Hispanic communities at least through the end of 2004, and judging from historical experience that time span will be longer than for any other major population group. Even if predictions of a turnaround later this summer prove valid, pocketbook issues will vex Latinos for several years after the national economy recovers. Second-generation Latinos–U.S.-born children of an immigrant parent– are now experiencing high job losses. In recent recessions Hispanic unemployment has fallen hardest on low-skilled immigrants. This time, young people who are the products of U.S. schools are experiencing the highest unemployment rates among Latinos. Many work in skilled occupations, including managers, technicians and professionals, and many are in the early years of household formation. Prolonged joblessness could prove a historic setback for them, their communities and the nation.
Hispanics and the Current Economic Downturn
The purpose of this paper is to examine the potential impact of the current economic downturn on Hispanic workers and families, and analyze how prepared Hispanics are for the economic recession. The paper is divided into four sections: The first section briefly explores the progress made by Hispanics during the economic boom of the 1990s. The second section uses the experience of Hispanics in past economic downturns to predict how they will fare in the current economic slowdown. The third section analyzes how well prepared Hispanic workers are for the economic slowdown. The final section draws conclusions based on the first three sections.