Posts Tagged "Latina"
October 4, 2022
Social Security Información – en Español
Alrededor del 14 por ciento de trabajadores y trabajadoras aquí hablan español. El Seguro Social tiene un sitio web para usted.
Translation: About 14 percent of the working-age population here speaks Spanish. Social Security has a website for you.
It’s critical that workers who speak only Spanish or are more comfortable with the language have a clear understanding of how Social Security benefits work. It’s estimated that Americans 65 and over receive just under a third of their income from the benefits, and lower-income people rely on it for much more than that.
Social Security’s Spanish-language website, which has been around in some form since the mid-1990s, provides general information about the program and also addresses issues especially relevant to this population. One example is an employer’s responsibility to report income for the one in four domestic workers in this country who are Latina.
Below are some of the general topics, as described on the website:
- Cómo funcionan los beneficios por jubilación. (How retirement benefits work.)
- Decidir cuándo comenzar los beneficios. (Deciding when to start the benefits.)
- Qué cosas adicionales puede afectar sus beneficios por jubilación. (Things that may affect benefits.)
- Lista de verificación para su jubilación. (Retirement checklist.)
August 5, 2021
Aging Minorities Struggle in Drug Treatment
For baby boomers who have abused drugs or alcohol for years or decades, the negative health consequences of addiction are particularly damaging.
But information about older Americans’ success in substance abuse programs is sparse, even though people between 55 and 75 now make up 22 percent of all U.S. overdose deaths, up from 9 percent in the late 1990s. And virtually no racial breakdown of treatment outcomes is available for this age group.
A new study by Jevay Grooms at Howard University and Alberto Ortega at Indiana University fills this gap. The researchers find that the number of older Black, white and Hispanic Americans admitted to treatment facilities and programs is steadily increasing.
The biggest growth in Black admissions was in cocaine and heroin treatment, while the rise for whites was concentrated in prescription opioids and alcohol treatment. The largest increase for Hispanics was for heroin addiction.
Amid rising admissions, however, the share of people 50 and older who completed treatment has generally trended down for each group during the period of this analysis, 2006 through 2017, though the rates bounce around quite a bit from year to year.
To gauge how each group fared over the period, the analysis controlled for various factors that determine success or failure, including education levels, employment status, and past attempts at treatment.
Older Blacks – and, to a lesser extent, Hispanics – are not as likely as older whites to successfully finish a substance abuse program. One reason is that minorities are more likely to be terminated by a treatment facility or program. Just as worrisome, however, are the widening disparities in the rates of treatment completion between each older minority group and their white counterparts – even as the disparities were closing for Blacks and Hispanics under 50.
The researchers did not dissect the reasons for treatments being terminated but noted that “lack of insurance, social stigma, distrust, lack of diversity and cultural incompetence among providers” are likely contributing factors in the racial differences. …Learn More
July 29, 2021
2.2 million Workers Left Out of Medicaid
The Affordable Care Act gives a carrot to states that expand Medicaid from a health insurance program mainly for poor people to one that also includes low-income workers.
Under the 2010 law, the federal government initially paid the full cost of adding more people to the Medicaid rolls, and a large majority of states have signed up. The federal funding for new expansions dropped a bit in 2020 to 90 percent and will remain there.
Yet 11 states are holdouts and haven’t expanded their programs, leaving nearly 2.2 million workers and family caregivers in what the Center for Budget and Policy Priorities calls the Medicaid coverage gap.
The workers falling in the gap, who would qualify for coverage if their states expanded Medicaid, do not have health insurance at their places of employment and can’t afford to buy subsidized insurance through the Affordable Care Act.
The bulk of the uncovered workers are in the South, with half in Texas and Florida. Missouri had been a holdout. But last week, the Missouri Supreme Court ordered the legislature to comply with a voter ballot initiative and fund expansion of the state’s Medicaid. Expansion was also controversial in Oklahoma, but it went into effect on July 1 after voters there approved the measure.
An analysis by the Center sketched a picture of who is in the gap, based on 2019 Medicaid data, the most recent available. People of color comprised about 40 percent of the working-age population but made up 60 percent of the people in the gap in the non-expansion states, the Center estimates.
Nationwide, one in four who lack access to Medicaid are lower-paid essential workers on the front lines during the pandemic. …Learn More
June 22, 2021
Immigrants’ Wealth Tied to Residency Status
We celebrate the stories of hard-working immigrants who achieve the American Dream. But their success in the real world largely depends on their residency status.
Undocumented farm workers are the most precarious. Living in the shadows makes it difficult to break out of low-wage jobs and move into more lucrative work. The Dreamers who came here as children are also undocumented. Some have been granted temporary protected status by the federal government, but they’re not eligible for federal student aid, and companies are often reluctant to hire them, even though the law permits it.
UCLA researcher Josefina Flores Morales uses U.S. Census data to investigate the connection between immigration status and socioeconomic status. She confirms what most people would expect – that net worth rises as an immigrant’s residency status becomes more stable.
Consider Latinx households. Dreamers and other undocumented workers have an average $38,000 in net worth. Latinx immigrants who carry green cards allowing them to live and work permanently in the United States have much more – about $66,000 in wealth. The foreign-born people who became citizens have $79,000, and citizens of Latinx descent who were born in this country have more than $92,000.
One reason undocumented immigrants’ wealth is much lower is that they tend to be younger than the immigrants with residency status or citizenship. But the differences in Latinx wealth, depending on immigrant status, persist even after age 50.
Non-Hispanic white households follow a similar pattern – net worth rises as citizenship becomes more secure. Undocumented white immigrants have about $59,000 on average. That’s a fraction of the wealth held by the richest whites, who were born here.
The chips fall somewhat differently in the Asian and Black communities. The immigrants who’ve gained citizenship have higher wealth levels than even the Asian-Americans and Black Americans born here, both of whom have a history of being subject to discrimination and slavery. But these groups are smaller than the Latinx and white communities. …Learn More
May 20, 2021
Black Millennials’ Wealth is Sliding
It’s still too early to assess the full impact of the COVID-19 downturn on Millennials’ economic fortunes. But Black Millennials had already lost a lot of ground before the pandemic hit their communities hard.
Their wealth in 2019 was just half of what would be expected based on how much wealth their parents’ generation had at the same age.
Other Millennials are also running behind previous generations, but only slightly. And their situations have improved in recent years, while Black Millennials are sliding farther and farther behind.
The Federal Reserve Bank of St. Louis called the situation “alarming” in its new report.
The oldest Millennials are turning 41 this year. But in 2019, the typical Black family born in the 1980s had only $5,000 in their savings accounts, 401(k)s, home equity and other wealth – compared with the roughly $11,000 they would be expected to have based on the previous generation. Hispanic Millennials had $22,000, and whites had $88,000.
Black Millennials are struggling for a few different reasons, said Ana Hernández Kent, a senior researcher for the St. Louis Fed’s Institute for Economic Equity. Homeownership is a major source of wealth for most Americans, but only a third of them own homes – half the rate of their white peers.
Student debt is another big issue, because African-Americans who borrowed money for college either didn’t graduate or used the loans to attend lower-quality for-profit colleges at disproportionate rates. Their college experiences haven’t always translated to earnings that are high enough to justify the debt taken on to pay for an education.
“They’re over-leveraged,” Kent said. “Just over a third of Black Millennials with at least a two-year degree are more likely to say the costs of college are larger than the benefits.” …Learn More
April 29, 2021
Retired People of Color Struggle with Debt
The oldest minority retirees are struggling with debt, a new Urban Institute study finds.
The researchers’ starting point is that people generally reduce their debt as they age. To prepare for retiring, older workers try to pay down their mortgage balances and pay off credit cards. Once retired, their debt continues to shrink.
But on closer inspection, retirees in their 70s and 80s in the nation’s predominantly minority neighborhoods have shed less of their debt than their counterparts in mostly white neighborhoods, who tend to be better off financially.
In a sign of financial distress among the oldest lower-income and minority retirees, 20 percent of their loans go to collections for non-payment – double the rate for higher-income and white retirees. Minority retirees also have lower credit scores and longer spells of poor credit, according to the study, which compared U.S. households with debt in four age groups: 50s, 60s, 70s, and 80s.
The researchers concluded that disadvantaged retirees “may heavily rely on debt to support their standard of living in retirement.”
To get some perspective on this racial disparity, first compare workers in mostly white and mostly minority neighborhoods. White households in their 50s typically owed $43,000 on their credit cards, car loans, and mortgages in 2019, the most recent year of survey data.
But in minority neighborhoods, 50-somethings owe half as much – in large part because financial companies and mortgage lenders extend less credit to lower-income customers.
(These debt levels may seem small, but the analysis included renters, who don’t have a mortgage, which is the single largest debt for most Americans, and homeowners who have whittled down their mortgages or even paid them off entirely).
For retirees, the racial pattern is very different. Borrowers in their 80s in minority neighborhoods typically owed $3,250 in 2019 – more than their white counterparts. And $3,250 is a substantial burden for retirees relying mainly on Social Security. Since they’re more likely to be renters, the debt is concentrated in auto loans and high-rate credit cards, which aren’t backed by an appreciating asset like a house. …Learn More