The Racial Gap in Economic Optimism

Recent research done by the Pew Research Center shows that Latino Americans are more optimistic about their personal finances and futures than the overall population despite the fact that Latino Americans on average earn $18,000 less per year than non-Hispanic whites.


This optimism has been noticed among Asians and blacks, as well. A poll conducted by The Atlantic found that blacks, Asians, and Latinos were more likely than whites to agree with the statement: “the American Dream is alive and well.” This new development comes at a time when the white working class is dwindling compared to non-white working class growth, according to The Economic Policy Institute’s recent estimates.


The racial gap in economic optimism may explain why large numbers of white voters have flocked to Donald Trump and Bernie Sanders’ anti-establishment campaigns and large numbers of minority voters have stuck with establishment politicians, like Hillary Clinton, as noted by FiveThirtyEight. Although it appears that many politicians and the mainstream media have overlooked the changing demographics of the working class and the number of Americans who are optimistic about the country’s economy, it will likely have a large impact on 2016 and future elections.


Further Reading:


http://www.pewhispanic.org/2016/06/08/latinos-increasingly-confident-in-personal-finances-see-better-economic-times-ahead/
Mel Neal

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