With Labor Day behind us, it’s time once again to get back to work and school. When it comes to work, recent studies have shown that Hispanic Adult Millennials (ages 18-34) continue to be hit hard by the tough economic conditions since 2008 – however, bilingual Hispanics in this age group appear to be faring better than those who are foreign-born and Spanish-dominant. To gain more insight on this topic, Tr3s is currently fielding its 2013 study, which explores Hispanic Millennials and the subject of work. The following are some employment trends Tr3s has uncovered as part of that analysis:
Total unemployment peaked in 2012 for Bilingual Hispanic and non-Hispanic Millennials 18-34 – but still climbs among foreign-born Hispanics. At just over 25% in 2013 for both groups, Bilingual Hispanic and non-Hispanic unemployment fell 10% from 2012 to 2013. For foreign-born, Spanish-dominant Hispanics, unemployment increased 6% year to year (to 35% in 2013).
Non-Hispanic Adult Millennials have seen steady gains in full-time employment since 2011, while Hispanics have continued to decline. In 2013, half of non-Hispanics 18-34 had full-time jobs – up 6% from 2011 but still below pre-recession levels (58% in 2008). Bilingual and foreign-born, Spanish-dominant Hispanics’ rates of full-time employment stand at 43%. This is 8% below 2011, and down 20-25% from 2008 (58% for Bilinguals, 55% for foreign-born, Spanish-dominant Hispanics).
Bilingual Hispanic Adult Millennials’ employment gains have been due to their higher engagement in part-time work. Nearly 20% of Bilingual Hispanics 18-34 reported part-time work in 2013 – up 19% from 2011 and driving up their total employment numbers. Foreign-born, Spanish-dominant Hispanic Adult Millennials’ part-time employment rates increased 13% since 2011, but were not enough to stem their overall employment decline. Non-Hispanics 18-34 saw an 11% decline in part-time employment over the two-year period, which was offset by their gains in full-time employment.
Bilingual Hispanics 18-34 are more likely than non-Hispanics and foreign-born, Spanish-dominant Hispanics to be full-time college students who are not working. Among Bilinguals in this age group, 9% are full-time students treating school as their job – compared with 7% of non-Hispanics and 4% of foreign-born, Spanish-dominant Hispanics.
Source: Experian Simmons, 2008-2013 Unemployment = Claimed unemployment minus full time students.