Majority of AAPI adults are facing financial challenges, poll reveals
January 31, 2024
A recent AAPI Data/AP-NORC Poll reveals that the majority of Asian American, Native Hawaiian and Pacific Islander (AAPI) adults are facing financial challenges despite positive economic reports.
The results: According to the data, only 30% of AAPI adults express confidence in their ability to manage expenses, with 23% having little or no confidence and only 19% feeling confident about finding a job if they decide to change roles.
Two-thirds (66%) of AAPI adults experienced an increase in household expenses, and 44% reported a decrease in savings over the past year. Additionally, nearly a third of respondents deferred major purchases in the last year due to higher interest rates.
AAPI outlook on economy: While a greater proportion of AAPI adults find the U.S. economy somewhat good (35%) as compared to other U.S. adults, most still describe it as poor (65%). In comparison to the general public, AAPI communities are generally less pessimistic about the country’s overall direction, the national economy and the likelihood of their personal finances improving in the next year.
However, a significant portion still disapprove of President Joe Biden‘s handling of inflation (67%), the economy (58%) and student debt (54%).
AAPI outlook on international relations: On foreign policy, around half of respondents feel that the U.S. is not supportive enough of Palestinians, and a similar share believes the U.S. is too supportive of Israelis.
In terms of international relations, some AAPI adults view Israel as a partner with differing interests and values (40%). About half see India as a partner that doesn’t share the same interests and values, while most consider Japan an ally that aligns with U.S. interests and values. As for China, roughly a third of AAPI adults see it as either a rival or an adversary, and a quarter view it as a partner of the U.S.
About the study: The survey was conducted by the AP-NORC Center for Public Affairs Research and AAPI Data in December 2023. It involved 1,091 AAPI respondents aged 18 and older in the U.S. with a margin of sampling error of +/- 4.5 percentage points.
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