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U.S. Latinas’ contribution to GDP topping Florida’s economy

Editores | 03/09/2024 17:33 | POLITICS AND THE ECONOMY

The growing economic impact of Latinas in the United States has been highlighted for their significant contribution to the country's GDP, which reached $1.3 trillion in 2021. This represents an increase of more than 50% since 2010 and exceeds the total GDP of Florida's economy. The study, titled “Dando Vida a La Economia” (Giving Life to the U.S. Economy), was conducted by academics at California Lutheran University and UCLA’ s Center for the Study of Latino Health & Culture, with funding from Bank of America. The researchers used public data from major U.S. agencies, as well as state and metropolitan reports, to explore the economic impact of Hispanic women in the U.S.


Dr. Hayes Bautista, who led the research, emphasized that Latinas entering the workforce today are mostly second- and third-generation Americans, combining the work ethic of previous generations with an accelerated growth in human capital, according to a report by the LatinTimes. The report points out that between 2010 and 2021, the number of Latinas with a bachelor's degree increased by 103%, compared to 38.3% among non-Hispanic women. During the same period, the income of Latinas grew by 46%, outpacing the 18.5% increase seen among non-Hispanic women.


In addition, the report highlights that Latinos' economic output in 2021 was greater than Florida's entire economy, positioning them as a lifeblood for the U.S. economy. Latino GDP growth in the U.S. is 2.4 times faster than non-Latino GDP, reflecting the rapid growth of the Latino workforce, which has grown nine times faster than the non-Latino workforce.


The study concludes that due to significant Latino GDP growth and other trends, Latinas are expected to continue to contribute substantially to the economic vitality of the United States for the foreseeable future.

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