Latinos Have Growing Confidence in Personal Finances, Nation's Direction

Nov 02, 2012

Hispanics have grown more satisfied with the nation’s direction and more confident in their finances since 2011, according to a new survey from the Pew Hispanic Center, a project of the Pew Research Center.

Today, half of Latinos (51%) express satisfaction with the direction of the country, a 13 percentage point increase over 2011, when 38% said the same. One-third (33%) now report that their finances are in “excellent” or “good” shape, up from one-quarter (24%) who said the same in 2011. And looking forward, Latinos have grown more optimistic about their family’s finances in the next 12 months, with three-in-four (73%) expecting improvement, up from 67% who said the same in 2011.

These changing assessments about finances and the country’s direction occur as some economic indicators recently have improved for Hispanics. In the third quarter of 2012, the Hispanic unemployment rate was 9.9%, down from 11.2% in the third quarter of 2011. The Hispanic unemployment rate is also now below its level at the end of the Great Recession in the third quarter of 2009, when it stood at 12.7%.1 The poverty rate among Hispanics has also declined, falling to 25.3% in 2011 from 26.5% in 2010 (DeNavas-Walt, Proctor and Smith, 2012).

Read the full report, Latinos Have Growing Confidence in Personal Finances, Nation's Direction, on the Pew Hispanic Center website.

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