Moneda Moves (142): A Week Away From Election Day, The Latino Vote Is Most Critical
We are six days away from Election Day, mi gente, and if the current economic climate is any indication, our votes will be more critical than ever. In the US, more than 34 million Latinos are eligible to vote, accounting for a 62% increase in eligible voters since 2018. According to the Pew Research Center, Latinos are now the “fastest-growing racial and ethnic group in the U.S. electorate since the last midterm elections.”
Make no mistake, the Latino cohort is no small deal. And while we are a very diverse one at that with varying political opinions, what’s clear is that the topics we care about have specific, recurring themes. I want to call out two reports released ahead of the election this year from NPR and UnidosUS, both highlighting the issues they care about at election time. Immigration, while an important issue, is far from the only issue our cohort wants to see addressed. Per a survey from UnidosUS, top themes and concerns as the country elects its next leaders are:
Inflation and the rising cost of living
The cost of food and basic expenses
Jobs and low pay — many feel as though they need to take a second job
Fear of impending layoffs at their existing companies
In fewer words: Latinos are concerned about their money this year — and having enough of it to live with stability, more than ever with an impending recession impacting their everyday work. With Latina Equal Pay Day having moved more than a month this year from October 21 to December 8, it’s more important than ever to address how to get help our cohort get paid living and fair wages. NPR also collected opinions from Latinos which they documented in this article with voters sounding off on issues ranging from inflation to healthcare and jobs.
I highlight these pieces because it becomes clear that there’s urgency in these concerns, and paying attention during election season to hear how candidates address these issues (or not) will be super important. I also call out this topic because this kind of economic and political climate is what makes voting all the more important. It makes you a part of the conversation when you exercise your right to have your vote counted.
See you at the polls,
Lyanne
Headlines to put on your radar.
Meet the New Generation of Business Owners In Chicago’s Historic Mexican Neighborhood: “Mexicans in Chicago shaped these neighborhoods decades ago. Now immigrants and their children are ushering in a new era of business and community.” This is the thesis statement behind the story I wrote about Pilsen and Little Village, two neighborhoods in my hometown of Chicago, where people of color and Mexicans built up the communities through business, activism and the arts.
In my recent story for HuffPost, we spoke with mission driven business owners and builders in Chicago’s Pilsen and Little Village. Through their work, not only are they building a place of commerce, they are taking up space to continue community-building work that has for decades has been integral to shaping the historic Mexican neighborhoods we know today.
A New Generation of Workers Is Global, Remote, and Flexible: We know that the future of work is quickly changing — and for the Latino cohort that presents a big opportunity. In a piece for Hispanic Executive, I spoke with Carlos Escutia, Founder of GroWrk, helping clients running their businesses remotely, and wrote about a few main trends in the future of work:
Greater Flexibility
Seeking Purpose Through Work
Companies Increasingly Tap A Global Talent Pool
We Experience A Shift In Retirement Style & Age
Safeguarding Local Communities As Remote Workers Move Abroad
On the topic of flexible work, we noticed an interesting trend in our reporting: Latinos are especially keen to engage in freelance work. Given that freelancers are also the ones who earn more especially as they garner more experience, this sets up the cohort for a great possibility to increase their earning potential as they take up more jobs.
How 2021 Became An Important Year For Access To Homeownership: In a recent story, The Washington Post noted how Black, Latino and Asian families saw the steepest increase in homeownership in 2021 since the Great Recession. The reporting cites a variety of factors including stimulus programs. Although this research doesn’t highlight how homeownership is doing today now that the housing market has cooled down, it certainly is a marker to highlight given that in years leading up, homeownership rates had fallen. It will be interesting to see how these rates shake out post-2021.
Rising voices in business, fintech, entrepreneurship and beyond.
Meet the 25 Most Influential New Voices of Money (TIME): Some exciting news, mi gente, we were recently named TIME x NextAdvisor’s most influential new voices of money. We were excited to see some familiar faces on the list like Rita-Soledad Fernández Paulino, Creator of Wealth Para Todos and Bola Sokunbi, who created Clever Girl Finance. We were just as eager to see new faces on the list to follow for new money information, perspectives and work to increase representation in the space.
For the creator of this newsletter, it has been a privilege to pursue something that was a few years ago just an idea: To see Latines represented in business news and to see it materialize in Moneda Moves ( which still growing, as we’re in an accelerator this.
The stories we tell matter. They influence our education, the way we think, our realities. They have the power to create connection and understanding. My hope is that the stories we tell will empower our communities. I hope they will make people curious, help build and ultimately create palpable change.
We Spoke At Latinx Travel Club’s Summit: And had thoughtful conversations about the role travel has when talking about Latinos and money. Organizers brought leaders across the media and travel spaces to talk about how to bridge cultures and perspectives. Thank you for the invite! You can learn more about the Travel Club Summit here.
Thank you for joining us! Until next week, catch us here on Moneda Moves.