close and back to page

Latest News

Latest News

Survey: Latinos in U.S. More Confident in Financial Future than Most Americans

One of the nation's fastest-growing demographics continues to believe in the American Dream.

By Sheryl Estrada


Latinos are more optimistic about their financial future than most Americans, despite setbacks from the Great Recession, which lasted from December 2007 to June 2009. Even though economic indicators, such as household income, show limited progress for Latinos since 2008, one of the nation's fastest-growing demographics has the confidence their personal finances will increase.

The Pew Research Center released its assessment of the 2015 National Survey of Latinos, a nationally representative bilingual telephone survey of 1,500 adults, on Tuesday. Four in 10 Latinos said their personal finances are in "excellent" or "good" shape, a 17 percent increase from 2008. Meanwhile, all Americans who have a similarly positive view of their finances remained essentially unchanged.

Confidence Personal Finances in "Excellent" or "Good" Shape

2008 2015
Latinos 23 percent 40 percent
General Public 41 percent 43 percent

 

Confidence Family's Financial Situation to Improve in the Next Year

  2008 2015
Latinos 67 percent 81 percent
General Public 56 percent 61 percent

 

However, Latinos still lag behind the general public in regard to income and poverty levels and household wealth.

 

According to a Pew survey released in April, "Statistical Portrait of Hispanics in the United States,"  the nation's Latino population increased from 6.3 million in 1960 to 55.3 million in 2014, now comprising 17.4 percent of U.S. population. The Latino population grew 57 percent between 2000 and 2014.

The economic impact of Latinos in the U.S. is slated to continue to be significant as the population continues to grow. The latest projections from the U.S. Census Bureau (2014) expect the population to reach 119 million by 2060.

However, the foreign-born Latino population began declining after 2000 and continues to do so. In 2014, among all Latinos, 34.9 percent were born in another country, down from a peak of about 40 percent earlier in the 2000s.

48.7 percent of Latino adults were born in another country in 2014, down from a peak of 55 percent in 2007.

Related Story: Trump Orders Supporters to Keep Attacking Judge

The Pew survey states, "Mexican-origin Hispanics have always been the largest Hispanic-origin group in the U.S."

The current rhetoric against Mexicans and Mexican Americans in the election began when presumptive Republican presidential candidate Trump made derogatory remarks about Mexican immigrants, calling them rapists, murderers and drug dealers during his campaign announcement speech on June 16.

In addition, the candidate said he'd deport 11 million undocumented immigrants from the U.S. and build a wall along the approximately 1,800-mile U.S.-Mexico border.

The National Survey of Latinos was conducted on both landline and cellular telephones from October 21 to November 30. So, despite the perpetuation of Trump's hateful speech, Latinos remain confident about their future. (A CBS News poll in April found that 82 percent of registered Latino voters view Trump unfavorably, and only 8 percent view him favorably.)

Education, American Dream and 'La Lucha'

Latinos' faith in the American Dream remains alive. According to the survey, Latino adults are confident in the upward mobility of their children's futures. 72 percent said they expect their children will be better off financially than they themselves are now.

Many Latinos believe education is still the key to attaining the dream. The National Survey also found that, in 2015, Latinos with some college experience or more (56 percent) and U.S.-born Latinos (50 percent) were most likely to say their personal financial situation is either "excellent" or "good." The lowest personal financial ratings in 2015 were among Latinos with less than a high school education and immigrant Latinos — 23 percent and 31 percent, respectively — who said their personal finances are "excellent" or "good."

A Pew survey released in February found 86 percent of Latino parents with children under the age of 18 said it is either extremely or very important their children earn a college degree.

Actor John Leguizamo said the energy and progress of Latino immigrants is related to work ethos. Leguizamo is the narrator of HBO's "The Latin Explosion," a 64-minute documentary that looks back at the long history of Latino contributions to American culture.

"You come here knowing that you're coming here to work, and you're gonna struggle," Leguizamo said in an interview. "And you're coming here with that knowledge, as opposed to the rest of us here already, thinking we're more entitled to things. They don't come here feeling that they're entitled to anything. They feel like they're coming to sacrifice. And that's where the energy comes from."

Legendary actress and singer Rita Moreno, featured in the documentary, told Vulture "la lucha" (the struggle) is a part of the immigrant experience.

"The truth is, we were not welcome here for a very long time," Moreno said. "With respect to la lucha, a lot of us went through that."

The Conversation

Voting Rights Protections for Minorities in Danger: Report

Citizens "continue to suffer significant, and profoundly unequal, limitations on their ability to vote," said Catherine E. Lhamon, chair of the U.S. Commission on Civil Rights.

REUTERS

The U.S. Commission on Civil Rights warns that voting rights for minorities around the country are in danger. The federal government isn't doing anything to counteract it, especially since Republicans have most to lose in key midterm elections.

A report, released on Wednesday, cited strict voter ID laws; closing polling places; cutting early voting; and voting roll purges and challenges to eligibility are all impacting minority-voting rights.

Read More Show Less

Obama to Trump: We're Supposed to Stand up to Discrimination and to Nazi Sympathizers

To voters: You can make sure that white nationalists don't feel empowered to march in Charlottesville in the middle of the day.

CLICK ON DETRIOT

Former President Barack Obama kicked off his campaigning for November's midterms, on Friday afternoon, and took jabs at President Trump and the spineless backbones of his Republican constituents.

Obama spared no expense rebuking the administration's actions that have emboldened racists.

Read More Show Less

Latino Employees Fired in Miami for Being Too Latino

Company leadership says loud, sexy, Hispanic employees with ethnic mannerisms are not allowed.

REUTERS

Former employees at Swire Properties filed a lawsuit in August against the company claiming they were fired because there was no place for "Hispanic Emotionalism" at work.

Read More Show Less

Chris Rock's Latest Instagram Post Calls Out Trump — Where's the Black Women?

Chris Rock highlights the lack of diversity in President Trump's White House.

Chris Rock's latest post on Instagram, hilariously, calls out the lack of diversity at The White House. There's, literally, been a "whiteout" at The White House since Omarosa's, um, "departure" from President Trump's administration.

Read More Show Less
Photo courtesy of Army Times

The U.S. Army has reinstated more than 30 recruits it discharged from a program created to fill high-demand positions in exchange for a fast track to citizenship, according to federal court documents filed on Monday.

But the reinstatement is only temporary.

Read More Show Less

Jesse Jackson: Use of the 'N-Word' is Far From the Only Measure of Racism

"We can't allow Trump to dumb down racism, limiting the standard to whether one utters the n-word or not," writes Rev. Jackson.

By Rev. Jesse Jackson Sr.

Last week, amid the continuing clamor of Trump's chaos presidency, the question of whether Trump had used the n-word became a media sensation.

Read More Show Less

Nathan's Hot Dogs Faces Backlash After Executive Chairman Hosts Trump Fundraiser

"I'm a vegetarian but that won't stop me from telling EVERYONE I know, including my 50K followers, to never buy Nathan's Hot Dogs ever again!"

YOUTUBE

Howard Lorber, executive chairman of Nathan's Famous Inc., and said to be one of Donald Trump's best friends, hosted a fundraiser for the president at his home in the Hamptons. As a result, social media users are threatening to boycott the hot dog brand.

Read More Show Less
TWITTER

Jeffery Epstein, a Lakeland, Fla. doctor, started yelling at airline employees in Orlando International Airport, and police arrived on the scene to stop the disturbance. Officers had to detain him because he started acting unruly and refused to calm down.

Epstein, a white man and Donald Trump supporter, felt betrayed by the white police officers.

Read More Show Less