According to a new study by Tr3s Hispanic Adult Millennials are trusting fewer people, marrying later in life and still speaking Spanish, which are all influencing factors as to how they are living their lives.
The ‘Hispanic Adult Millennials Living the Next Normal: Age of Uncertainty’ study shows that this key demographic was severely impacted by the 2008 economic crisis, which occurred just as this group was entering adulthood. Hispanic Adult Millennial’s circle of trust got smaller and reliant mostly on family to get by. This group is staying at home a little longer than they had hoped though they continue to aspire for financial independence.
The 2008 crisis also resulted in marriage taking a hit. Though Hispanic Adult Millennials value marriage highly they see taking vows as a risky proposition both economically and emotionally. The marriage rate for Hispanics 18-to-29 has decreased nearly 30% from 2008 to 2012.
Another conclusion from the study centered around use of the Spanish-language. The study showed that nearly 9-out-of-10 Hispanic adult millennials who still live at home with mom and dad speak mostly Spanish. And a near majority feel it is important to teach children Spanish. Among those that have found independence and live outside of the family home Spanish is still the main language – in almost 8-out-of-10 households.
English is the preferred language to speak outside the home and at work.