Excited
From the Philippine Daily Enquirer comes news that Filipinos are among the biggest spenders in the US, second only to Indians, and spending an average of $88.6 billion in goods and services annually. I knew those magic mikes and giant forks and spoons on the walls were worth something. (Oh, joke lang.)
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There are a lot of subtleties behind these stats cited that are not noted in the short article. Filipino Americans have higher employment rates, but this may be because many have multiple lower paying jobs, which is the case in my community. . Also, as Efren has pointed out, household income stats (not sure if these were used) are deceptive because Filipinos have bigger households. My own extended family household has 6 residents and 3 adults earning income, so our household income looks a lot better than the average income.
I also found it disturbing that they want to market more to Filipinos-Americans. In some ways, companies market to them too much. Filipinos have a tendency to try to buy more than they can afford and were targeted for subprime loans, shown by heavily Filipino-Americans areas in the US with high foreclosure rates. I have seen this devastation also in my community.
There are a lot of subtleties behind these stats cited that are not noted in the short article. Filipino Americans have higher employment rates, but this may be because many have multiple lower paying jobs, which is the case in my community. . Also, as Efren has pointed out, household income stats (not sure if these were used) are deceptive because Filipinos have bigger households. My own extended family household has 6 residents and 3 adults earning income, so our household income looks a lot better than the average income.
I also found it disturbing that they want to market more to Filipinos-Americans. In some ways, companies market to them too much. Filipinos have a tendency to try to buy more than they can afford and were targeted for subprime loans, shown by heavily Filipino-Americans areas in the US with high foreclosure rates. I have seen this devastation also in my community.
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[...] is a correlation between income levels and health, but Filipinos again complicate this by having a high household income, mainly because there are often more wage earners in a Filipino household (three in my household as [...]