Hispanics Feel More Optimistic About Finances and Economy Amid Declining Unemployment Rate

A recent poll from the Florida Atlantic University Business and Economic Polling Initiative (FAU BEPI) has revealed that Hispanics are feeling more optimistic about their finances and the economy, thanks to a declining unemployment rate among Hispanics. The Hispanic Consumer Sentiment Index (HCSI) increased to 85.3 in the first quarter of 2023, up from 76.3 in the fourth quarter of 2022. This increase in optimism was seen across all five questions used to generate the HCSI.

According to the survey, conducted between January 1 and March 31, 59 percent of Hispanics reported feeling better off financially now compared to a year ago, a significant increase from 48 percent in the last quarter of 2022. Additionally, 71 percent of Hispanics believe they will be better off in the next year, up from 68 percent in the previous quarter. In terms of economic outlook, 54 percent expect good business conditions in the year ahead, while 58 percent are optimistic about the long-run economic future.

The results were weighted to reflect the national distribution of the Hispanic population by education, gender, age, and income according to the latest American Community Survey data. Despite rising inflation rates, Hispanics are more positive about their personal finances due to