The Economic Impact of U.S. Latinas: A Remarkable Contribution
The economic contributions of Latinas in the U.S. have been notably significant. According to an enlightening report, in 2021, Latinas contributed $1.3 trillion in economic output. This represents an impressive 50% increase compared to 2010.
A Historic Perspective
The contributions of Latinas have been a matter of debate for years. The U.S. Latina GDP Report, funded by Bank of America, sheds light on this. It builds upon the work of David Hayes-Bautista, a professor of medicine and director of the Center for the Study of Latino Health and Culture at UCLA’s School of Medicine, dating back to the 1980s. Hayes-Bautista recalls the negative reaction to the growth of California’s Latino population amidst concerns of "gangbanging illegal immigrant teenagers" and "pregnant moms living on welfare."
The Growing Latino Population
The report projects a significant increase in the Latino population, with a rise from 65 million currently to close to 90 million by 2060. According to Hayes-Bautista, this growth is pivotal for the U.S. economy to maintain its global preeminence throughout the 21st century.
Educational Attainment Fuelling Economic Growth
A critical driver behind the surge in Latina GDP is the increasing educational attainment among Latinas. The report highlights that from 2010 to 2021, Latinas have seen a rapid increase in educational achievements. Specifically, during this period, the number of Hispanic females with a bachelor’s degree grew by an astounding 103%. By comparison, highly educated non-Hispanic females saw a growth of just 38.3%.
A Closer Look at Educational Trends
- Latino Education Gains: Latinas have outpaced Latinos in educational attainment.
- Comparison with Non-Hispanics: Latina educational achievement grew 2.7 times that of non-Hispanic females in the U.S.
Labor Force Participation and Income Growth
Another fascinating facet of the report is the labor force participation and income growth among Latinas.
Labor Force Insights
From 2000 to 2021:
- The Latina labor force participation rate increased by 7.5 percentage points.
- The participation rate for non-Hispanic females remained flat.
Interestingly, Latinas, who began the century with a lower participation rate, are now 2.5 percentage points more likely to be actively working than their non-Hispanic female counterparts.
Income Trends
From 2010 to 2021:
- The real incomes of U.S. Latinas grew 46%, compared to 18.5% for non-Hispanic females.
- Latina income growth outpaced that of their non-Hispanic counterparts by a factor of 2.5.
Year | Latina Economic Output (USD Trillions) | Hispanic Female GDP Growth Rate | Non-Hispanic GDP Growth Rate |
---|---|---|---|
2010 | 0.661 | 1.2x | 2.7x |
2021 | 1.300 | – | – |
Conclusion
The report’s findings underscore the crucial role Latinas play in the U.S. economy. Professor Hayes-Bautista rightly points out the invisibility of these contributions amidst the often-negative portrayal of the Latino population. It’s evident that the economic rise of Latinas is not only a present reality but also a beacon for the future.
[Reach the reporter at daniel.gonzalez@arizonarepublic.com.]