Employment, Income, and Retirement

Employment

Employment and labor force participation tends to mirror those rates of the non-Hispanic white and African American older adults groups. In 1990, there were 29.7% Hispanic/Latino men aged 65-69 in the work force compared to 28.3% non-Hispanic white males. Hispanic/ Latino women in this same age category participated less in the work force at 15% compared non-Hispanic white women at 16.8%. Almost 10% of Hispanic/Latino men over the age of 80 were in the labor force in 1990 compared to 9.6% of non-Hispanic white males. There were more Hispanic/Latino women over the age of 80 in the labor force (5.2%) compared to 2.9% non-Hispanic white women. Most Mexican American and Puerto Rican older adults have held occupations in the skilled blue collar and unskilled and laborer positions compared to Cuban older adults who have held professional and technical positions (Villa et al., 1993).

Sources of Income

Older Hispanic/Latino non-married women tend to experience poverty more than Hispanic men at 26.6% compared to 19.6%. Poverty poses a serious threat to the quality of life older Hispanic/Latina women face and suggests they struggle economically in their old age. For many Hispanic/Latino older adults, retirement may not an option.  The types of occupations they have experienced have not allowed these older adults to obtain sufficient retirement pensions, if any.  Hispanic older adults are largely represented in the never beneficiary for Social Security Benefits. According to the Social Security Administration, the projected median  Social Security Income for  Hispanic/Latinos was 1,5936 in 2024.

In the H-EPESE study of older adults Hispanics from the Southwest, Angel, Frisco, Angel and Chiroboga identified a relationship between financial strain and poorer self-rated health, increased probability of reported problems with physical functioning, and the ability for the elder to provide self-care (2003). The authors conclude that the subjective aspects of health are more strongly related to financial strain and the sample of older Mexican American older adults may have access to social support which has a protective factor from financial strain (Angel, et al, 2003).

A recent study, explored if financial strain predicted worse health outcomes in Mexican Americans ages 74 and older. The study key findings emphasized that adults with persistent  financial strain were twice as likely to develop high depressive symptoms and three times more likely to develop Activities of Daily Living (ADL) limitations (Hernandez et al., 2024).