Three Studies That Will Introduce You to Hispanic Millennials

They’re diverse, they’re educated, they’re self-expressed. And they are truly a force in the marketplace.

Millennials, the generation born after 1980 and the first generation to come of age in the new millennium, are demanding increased attention from marketers. Over 70 million strong, this generation between the ages of 16-29 already comprise 50% of the workforce and maintain a buying power in excess of $2 trillion.
Overall, Millennials are more ethnically and racially diverse than their counterparts, less religious, more self-expressive, more likely to get along with their parents, respect their elders and soon will become the most educated generation in American history.
Representing 19% of this important segment, Hispanics play a key role in defining and driving Millennial characteristics and trends.
In some of its earlier research into these young adults, the Pew Hispanic Center gained valuable insights into their life plans, desires, relationships and attitudes. These studies will give you a solid base of information about this group of consumers if you are not already familiar with them, and deepen your understanding of this powerful group.
Below are highlights from three important, groundbreaking studies by Pew researchers:
This report explores the attitudes, values, social behaviors, family characteristics, economic well-being, educational attainment and labor force outcomes of this segment. The findings reveal a complex dynamic among foreign and native-born Latinos. For example, while young Latinos are overall satisfied with their lives, optimistic of their future and place a high value on education, hard work and career success, they are more likely to drop out of school and become teenage parents.

2. The Changing Pathways of Hispanic Youths Into Adulthood, 10.07.09

Hispanic youth are more likely to be in school or in the workforce than previous generations. Much of this increase is being driven by Hispanic females. Only one-third of young Hispanic females were enrolled in school or college in 1970. By 2007, this figure had risen to over half (54%).

3. Latinos and Education: Explaining the Attainment Gap, 10.07.09

Delving further into the education attainment gap, this report reveals that Hispanics’ optimistic and aspirational outlooks aren’t necessarily followed by actions. The study uncovered that nearly nine-in-ten (89%) of young Latinos (ages 16-25) indicated that a college education is important for success in life, less than half (48%) reported they themselves plan to get a college degree. Most reported that financial pressures to support the family were the leading barrier to education completion.

These reports begin to shed some light on the impact that Hispanic Millennials will have on the American landscape. To learn more about the Millennial trends in general, you can check here.