Hispanics Feel More Optimistic About Their Finances and the Economy as Unemployment Rates Decline

A recent poll by the Florida Atlantic University Business and Economic Polling Initiative (FAU BEPI) has shown that Hispanics are feeling more optimistic about their finances and the economy. This is due to a declining unemployment rate among Hispanics, which has led to an increase in consumer sentiment.

In the first quarter of 2023, the Hispanic Consumer Sentiment Index (HCSI) increased to 85.3 from 76.3 in the fourth quarter of 2022. This increase was seen across all five questions used to generate the HCSI.

Hispanics are also reporting feeling better off financially now compared to a year ago, with 59% saying so, up from 48% in the last quarter of 2022. Additionally, 71% of Hispanics believe they will be better off in the next year, up from 68% in the previous quarter. In terms of economic outlook, 54% expect good business conditions in the year ahead while 58% are optimistic about the long-run economic future.

Another positive trend is an increase in optimism regarding big purchases, with 41% of Hispanics thinking it is a good time to purchase major household items compared to 38% in the previous quarter. Despite rising inflation rates, Hispanics are more positive about their personal finances due to decreasing unemployment rates among Hispanics which dropped from 4.9 percent to