Univision-AP Poll: HISPANICS & THE ECONOMY

The findings of the Univision-AP Poll relating to the economy show that Hispanics were not immune to the worst economic downturn facing the nation and yet are extremely positive about their own situation. The study found that:
 
– Forty five percent said they or a relative have lost a job since September, while 12 percent of Hispanics said they were unemployed or laid-off.
 
– Forty eight percent of Hispanics said they worry greatly about becoming unemployed.
 
– Of those who are employed, 70 percent are working 40 hours per week or more. Hispanics also have a higher number of wage earners per household allowing them to continue making purchases on a day-to-day basis.
 
– About 1 in 3 Hispanics said they have to cover their own health expenses, without insurance.
 
The study also highlights the positive attitudes, hopes and financial practices of the fastest growing segment of the U.S. population.
 
– The majority of Hispanics surveyed say it’s been easier for them to find jobs than it was for their parents and previous generations.
 
– Half of the respondents said they owned their own homes.
 
– Most Hispanics say that they believe it will be even easier for their own children when it’s time for them to join the workforce and purchase homes in this country.
 
– Hispanics are not as impacted by the downturn because they are not as debt burdened. Fifty-one percent of Hispanics said they have never taken out a loan for a house or condo. Moreover, 50 percent are not comfortable taking on large long-term debt. Additionally, sixty-one percent of Spanish Dominant Hispanics have never taken out a loan for a house or condo.
 
– Approximately 1 in 6 said they send money to someone in another country nearly every month or more.