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Hand squeezing a piggy bank. Illustration: Aïda Amer/Axios

Younger Latinos are much more likely than their non-Hispanic counterparts to provide financial support to family members during the pandemic, despite barely having savings or emergency funds of their own, per an Ipsos/Bank of America poll.

Why it matters: People of color have borne the brunt of the pandemic’s economic fallout, and Latinos also have a higher ratio of COVID-19 infection and death than other groups when compared with white non-Hispanics, per CDC data.

  • A quarter of Hispanic millennials say they are surviving paycheck to paycheck.
  • Still, 72% of those polled are also providing for their families, in comparison to 53% of their non-Hispanic peers, and 49% have increased caregiving responsibilities.
  • Latino millennials are twice as likely to feel a greater sense of financial responsibility for loved ones, according to the poll.

Between the lines: Latinos, among the main drivers of population growth, are younger on average, so the financial impact on millennials will likely have an effect on the overall U.S. economy.

Get more news that matters about Latinos in the hemisphere, delivered right to your inbox on Tuesdays and Thursdays. Sign up here for the Axios Latino newsletter.

Go deeper

Oct 17, 2021 - Health

Education secretary reveals limits to Biden’s mask push on states

U.S. Education Secretary Miguel Cardona, in an "Axios on HBO" interview, said he's reluctant to withhold federal funding from states that won't enforce school mask mandates because he doesn't want to hurt students.

Why it matters: Cardona's comments suggest there are limits to how far the Biden administration will go in pressuring states to adopt universal masking — or vaccine mandates.

Oct 16, 2021 - Health

Pope Francis calls on companies to release COVID vaccine patents

Pope Francis. Photo: Massimo Valicchia/NurPhoto via Getty Images

Pope Francis called on pharmaceutical companies on Saturday to release patents to make COVID-19 vaccines more accessible to the poor, Reuters reports.

Why it matters: There is a stark divide between countries that have access to COVID-19 shots and those that don't, and the gap has widened as some wealthier countries have begun distributing third doses.

Oct 17, 2021 - Health

Fauci: J&J recipients will likely be able to mix and match boosters

Anthony Fauci. Photo: Stefani Reynolds-Pool/Getty Images

The Food and Drug Administration and Centers for Disease Control and Prevention will likely allow recipients of the Johnson & Johnson COVID-19 to mix and match vaccine boosters depending on their individual health, NIAID director Anthony Fauci told ABC News' '"This Week" on Sunday.

Why it matters: The FDA's vaccine expert panel on Friday unanimously endorsed booster shots for adult recipients of the J&J vaccine. The panel is also exploring the mix and match strategy but hasn't yet taken a formal vote on the matter.