Latino power continues to drive the U.S. economy

Latino power continues to drive the U.S. economy
The Latin American economy reached US$3.2 trillion in 2021. Photo: Arno Borghi/dpa-Zentralbild/dpa

the Economy Subordinate Latinos in United State It continues to rise, indicating its superiority in the nation. It has reached such high rates that if this society were an independent country, its GDP would be higher than the United Kingdom, India and France.

This was stated in a recent report submitted by the website Latino Donor Collaborative (LDC)a non-profit organization dedicated to changing the perception of… Latinos in United State Through data and research; In collaboration with Wells Fargo.

The study highlights that Latin economics In the American Federation It reached $3.2 billion dollar In 2021, compared to the US$2.8 trillion recorded in 2020, accommodation and food services, construction, administrative support, waste management and transportation are the sectors with the greatest strength.

Accommodation and food services, construction, administrative support, waste management, and transportation are the sectors where Latinos have the greatest strength in the United States. Reuters/Brian Woolston

In fact, over the past decade, Latin economics The country has grown two and a half times faster than its counterpart LatinWhich confirms his enormous contribution to the indicators Economical National.

“We are our Latinos,” highlighted Saul Trujillo, president of the Latino Donors Collaborative Economy Huge, at this moment, suffering from a lack of investment and lack of commitment,” during an interview with “Squawk Box” from CNBCStressing the need to fully exploit this potential economic.

Although growth Latino community It was widely distributed in United StateThe most prominent effects are evident in the states of: California 682,000 million dollars, Texas $682 billion And Florida $465,000 million.

The most significant economic impacts of Latinos occurred in California, Texas, and Florida. (Photo: New York Times)

This is largely due to a large proportion of the population LatinTheir prominent role in the workforce and their productivity in it state. “According to the graphs we have now in our study, the growth of 48 out of 50 states is associated with this group. LatinTrujillo said.

In fact, according to the LDC analysis, if the indicators are extracted from Latin economics just in CaliforniaThis would be the 21st largest in the world, placing it between Poland and Switzerland.

In emerging markets LatinosSouth Dakota, North Dakota, and New Hampshire saw notable growth, with the highest rates of GDP growth since 2011. In South Dakota, the impact was economic Subordinate Latinos It grew at an annual rate of 11.8% in 2021, slightly outperforming its neighbour.

Latino workers earn an average of 80 cents compared to every dollar earned by non-Hispanic white employees. Reuters/Brendan MacDiarmid

The study also reveals that salary income LatinosWhich amounted to 1.67 billion US dollars dollar In 2021, it witnessed higher growth than non-countries Latinos Over the past decade, at an annual rate of 4.7% versus 1.9%, respectively.

Despite this growth, there remains a large wage gap among workers Latinos Those who earn an average of 80 cents each dollar Earned by non-Hispanic white employees.

Another important indicator is purchasing power, which has remained strong, reaching US$3.4 trillion in 2021 and growing 2.1 to 2.4 times faster than its non-EU counterparts. Latinos.

Latinos’ payroll income reached $1.67 trillion in 2021. REUTERS/Carlo Allegri

“For the rest of this century, this category will continue to grow more and more,” Saul Trujillo predicts, urging those interested to consider the investment and fund growth opportunities offered by this trend. economic It means.

These findings were presented during the L’Attitude conference, which analyzes the state of leadership, engagement and representation Latin In companies AmericansAs well as in the public, media and entertainment sectors.

The report is based on data from 2021, the most recent year for which information is publicly available, as well as other sources such as the Census Bureau and the Bureau of Analysis. economic and the Bureau of Labor Statistics, among others.

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