Latinos Are Increasingly Optimistic About Their Financial Futures

By: Daniel Steingold | June 10, 2016

A new poll released by the Pew Research Center has found that Hispanic Americans are increasingly more optimistic about their financial futures than the rest of America.

According to the poll, 81 percent of Hispanics believe that their family’s financial situation will improve “some” or “a lot” in the coming year, compared to 61 percent of the rest of the U.S. public.

In addition, as recently as 2011, only 24 percent of Hispanics believed that they were in excellent or good shape financially. The new poll showed that this figure has now skyrocketed to 40 percent, only three percent below the rest of the American populace.

Adult Hispanics are also quite optimistic about their children’s futures, as 72 percent believe that their children will be better off than they are. Only five percent of respondents believed that their children would be worse off.

These findings are particularly interesting because the stats don’t necessarily correlate. For example, whites, the primary racial group in the U.S., make $18,000 more on average than Hispanics.

Hispanics are also 40 percent more likely to be unemployed, less likely to be homeowners or college graduates, and are over twice as likely to live in poverty.

When delving in deeper, certain findings begin to make more sense. Latinos born in the U.S. or with at least some college education were significantly more likely to believe they were well-off financially.

Conversely, those who are immigrants or possess less than a high school education, were said to be significantly less likely to express optimism.

With the economy likely playing a big role in the November election, the beliefs of individual demographics are likely to continue to be highlighted by outlets.

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