Cautious optimism for Latino businesses, entrepreneurs
The Great Recession hit wage earners across the board, some more than others.
A nationwide survey of 600 Latinos conducted in 2009 by LatinoMetrics revealed that half of Latino families were bringing in less income than the previous year, with one in three making the same money and only one in seven making more greenbacks.
Survey data also revealed that six in 10 Latinos were making ends meet; four of those indicated it's not easy but they're getting by. One in 10 said things are looking up, and another one thought all was moving along swimmingly.
The younger Latino maintains the most positive outlook on the economy, while those in the over-40 age bracket and making less than $20,000 per year are particularly concerned about finances. This latter group is also more likely to report that they have witnessed more Latinos leaving the United States recently than coming in.
"Hispanics have been hit hard by the Great Recession," according to Carlos Garcia, president of Garcia Research, in a summary report of the survey findings "The lowest income, Mexican-origin, mono-lingual Spanish segment (is) seeing the worst of it. Still this community has strong family support systems to help them weather such situations. Perhaps due to that support,