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Today, the state of the economy is shaping Hispanic young adults’ lives more than anything else. Just as they were entering or approaching adulthood, the global economy went sour, forcing them to behave differently than people of earlier generations as they started their adult lives.
College was supposed to lead to dream jobs – but for many, work of any kind can be hard to come by. As we noted in last week’s blog, young Latinos have had it particularly hard: Hispanics 18 to 34 are 25% more likely to be unemployed than non-Hispanic whites, and one in seven Hispanics 18 to 24 is looking for a job but can’t find one.
Finding out how the poor economy has affected young Hispanics — and how their choices differ from earlier generations of Hispanics and non-Hispanic young adults as a result — was one of the goals of Tr3s’s latest research study, “Hispanic 18-34s Living the ‘Next Normal. ’”
On April 30th, Nancy Tellet, Senior Vice President of Tr3s Research and Insights, will reveal key findings from this report at the AHAA 2013 Conference in Miami. The following are a few insights relating to young Hispanics and the economy that she will cover in her presentation – and that we’ll also be providing more detail on in future blog posts:
Young Hispanics are more risk-averse. Life choices, big and small, are subject to conscious and sub-conscious risk evaluation. They are carefully weighing the cost and benefits of everything from their living situations, marriage, and purchasing decisions of everyday and big-ticket items.
