Economy (323)

Why Are Latinos Not Saving for Retirement?

A new survey by ING Retirement Research Institute, by Forbes, revealed that Latinos aren't saving for their golden years.

Fifty-four percent of Latinos said that they felt "not very" or "not at all" financially prepared for retirement, a percentage that was higher than that of all other ethnic groups surveyed including African-Americans, whites and Asians.

The question now is why Latinos are not saving more money toward their retirement. While the ING survey reported that about a third of Latino

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Latinos make good Republicans

8602378657?profile=originalWhile attending the Republican National Convention, I received several emails and messages asking why, as Hispanic, I am a Republican. This question puzzles me a bit, because there is some implied assumption that if you’re Hispanic, by default you are expected to be a Democrat.

However, it seems to me that because of the values in the Hispanic community, it would seem only logical that Hispanics should actually be more aligned with the Republican Party than they would with the Democratic Party.

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8602371889?profile=originalFor years, America’s growing and mobile Latino population helped transform cities such as Atlanta and Las Vegas as well as many smaller communities. But the deep recession slowed this great dispersion, a new analysis shows, raising economic and political implications.

Between 2000 and 2010, the nation’s Latino population jumped 43 percent to 50.5 million, growing especially fast throughout the South and in smaller metropolitan areas in the Midwest and Northeast. The Latino populations more than

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Despite the recession, a large number of companies—“especially consumer-product companies and financial-services firms”—are aggressively targeting the U.S. Hispanic market through advertising in Spanish-language media and sponsorship of community events, Beatrice E. Garcia writes for The Miami Herald. Quoting TNS Market Intelligence, a market research firm, Garcia explains that overall, “[m]ore than $5 billion was aimed at the Hispanic market in 2008.” As the fastest-growing minority group in
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Latinos flock to New Orleans

For the first time since it was a Spanish colony some 200 years ago, New Orleans is getting revitalized by Spanish speakers. One of the more dramatic and immediate impacts of Hurricane Katrina has been the influx of thousands of new Latinos who have moved to the city to detoxify, renovate and rebuild storm damaged roads, flood walls, businesses and homes. Following a mini-boom in Latinos has been a growing number of Latino-owned businesses, especially in the retail and service sectors. Two Me
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Unemployment in California hits post-World War II high

California's jobless rate reached a fresh post-World War II high in July, climbing to 11.9%, a sobering reminder that though the nation's deep downturn may be nearing its end, the state's employment woes are far from over. Golden State employers cut their payrolls by 35,800 jobs in July, according to figures released Friday by the state Employment Development Department. That's a significant improvement over monthly losses that averaged 76,000 over the first half of the year. READ FULL STORY
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Hispanic births plunge in U.S.

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The number of babies born to Hispanics dropped below 1 million in 2010, a nearly 11 percent drop since 2007 that reflects the tough times.

Fewer people of all backgrounds are having babies because of economic concerns, but the sharpest drop is among Hispanics, a booming population that contributes almost a quarter of all U.S. births and half of its population growth.

"Hispanic fertility is dropping like a stone," says Kenneth Johnson, demographer for the University of New Hampshire's Carsey Ins

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Latino immigration is reshaping entire neighborhoods throughout the country, and sparking new community trends. The vibrant culture of many of these neighborhoods-- their rich music, art and traditional food from all over Latin America-- has become a lure for thousands of tourists.

Take Visit el Barrio , a campaign promoting Spanish Harlem, also known as El Barrio, as a tourism destination. In promotional video, host Victor Cruz visits restaurants that offer traditional Latino food, art venues

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Latin America's eight largest economies in coming weeks will receive about $17.3 billion from the International Monetary Fund, as the multilateral agency seeks to boost global reserves. Governments across the region are at different stages of deciding what to do with the windfall which, although it's been on the radar for many months, has only just been formally approved by the IMF board of directors. The payments, to be made on Aug. 28 and Sept. 9, will be issued by the IMF as Special Drawing
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8602365066?profile=originalUnemployment among Latinos remained the same between October and November, while for the general U.S. population it fell to a two-year low, according to the Labor Department.

The Latino jobless rate held at 11.4 percent in November, the same it was in October. The national unemployment rate, however, dropped 0.4 percentage points to 8.6 -- from 9 percent the previous month -- the lowest it's been since March, 2009, during the depths of the recession.

The decline occurred as employers stepped up

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Hispanic children are now the largest group of kids in poverty, marking the first time in U.S. history that poor white children are outnumbered by another race or ethnicity, the Pew Hispanic Center said in a report released on Wednesday.

There were 6.1 million Hispanic children living in poverty in 2010. More than two-thirds of them were born to immigrant parents, although the vast majority of the kids were born in the U.S.

Last year, 37.7 percent of children in poverty were Latino, 30.5 percen

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Poor economy slows Hispanic birthrate

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The number of babies born to Hispanics dropped below 1 million in 2010, a nearly 11% drop since 2007 that reflects the tough times.

Fewer people of all backgrounds are having babies because of economic concerns but the sharpest drop is among Hispanics, a booming population that contributes almost a quarter of all U.S. births and half of its population growth.

"Hispanic fertility is dropping like a stone," says Kenneth Johnson, demographer for the University of New Hampshire's Carsey Institute.

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Hispanic households accounted for more than half of the nation's homeowners in the third quarter, evidence of the potential purchasing power of Latinos during the housing recovery.

According to Census Bureau data provided by Alejandro Becerra, former senior housing fellow at the Congressional Hispanic Caucus Institute, the number of Hispanic owner-occupiers grew by 288,000 from 6.21 million in the second quarter to 6.49 million in the third quarter.

Of 545,000 new household units in the third q

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Unemployment numbers far worse for blacks

February's higher-than-anticipated U.S. jobless rate of 8.1 percent shook America on Friday morning. It was a stat not seen since December 1983 -- except in black America, which has had rates above 8.1 percent for all but six months since 2001. The unemployment rate for blacks in the United States hit 13.4 percent in February, the U.S. Department of Labor reported Friday. READ FULL STORY
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Dream deferred for many Latinos

Open almost any urban newspaper to the foreclosure notices and you’ll find the list heavy with Hispanic names. Times are tough for Americans of every demographic, but for Latinos they are grimmer still. Is this the end of the Latino-American Dream? The answer, in Spanish and English, is “no.” President Obama has unveiled a $75 billion plan that includes helping homeowners who are behind in their monthly payments but could keep up if their mortgage terms were eased a bit. Many Latinos would fit
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Job Losses Show Breadth of Recession

What does the worst recession in a generation look like? It is both deep and broad. Every state in the country, with the exception of a band stretching from the Dakotas down to Texas, is now shedding jobs at a rapid pace. And even that band has recently begun to suffer, because of the sharp fall in both oil and crop prices. Unlike the last two recessions — earlier this decade and in the early 1990s — this one is causing much more job loss among the less educated than among college graduates. T
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More Bad News From the Job Market

You’ve been out of work for a year now and you are wondering what’s ahead. Or you are one of many couples who lost a paycheck and you are trying to get by on one only. Or you are middle-aged and had a good-paying factory job. But there are very few factory jobs today in your Rust Belt city. Or you are black or Latino and a lot of your friends can’t find a job either. Where are we headed at the start of 2010? As a number of recent reports point out, the Great Recession still hangs heavily over
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Unemployment hits harder among Latinos, blacks

The ax fell without sound or shadow: Tatiana Gallego was suddenly called into human resources and laid off from her job as an admissions counselor for a fashion college. "The way people tried to explain it to me was, I was the last one hired so I was the first one out," said Gallego, 25, who had worked there for 17 months. Last hired, first fired: This generations-old cliche rings bitterly true for millions of Latinos and blacks who are losing jobs at a faster rate than the general population
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Recession’s Toll on Hispanic Immigrants

The recession has hit Hispanic immigrants especially hard. They have suffered more job losses than most other workers, and their earnings remain lower than those of other groups. Among foreign-born Hispanics, an estimated 47 percent are illegal immigrants. Although some of those immigrants have been pushed by the economic slump to leave the United States, most have stayed and are struggling to hold on to jobs.READ FULL STORY
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Mental stress spirals with economy

As the economic crisis gathered steam last year, Americans became increasingly stressed out and experienced worsened mental health — a trend that continues today, according to a landmark Gallup-Healthways poll out this week. Done nearly every day in 2008 and still ongoing, the survey of 355,334 people is believed to be the largest, longest and most thorough poll showing how emotional well-being shifts with economic changes. READ FULL STORY
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