As we celebrate Hispanic Heritage Month, we continue to acknowledge this year’s theme: “Driving Power, Prosperity, and Progress in America.” In this blog post, we will be highlighting prosperity in Hispanic culture.
Hispanic and Latin households now collectively earn more than they ever have, earning more than $1.2 trillion in 2019 alone. According to recent statistics, Hispanic-owned businesses are among the fastest-growing segments of the U.S. economy, generating jobs and fostering innovation.
From CEOs to inventors, doctors, politicians, trade laborers, artists, educators, and more, Hispanics are driving America's innovation, economic growth, and prosperity.
Did you know?
- Hispanics and Latinos are a key contributor to the economic prosperity of the United States, with a GDP of $2.8 trillion, which is equivalent to 12% of the country's total GDP.
- If Hispanics and Latinos were a standalone economy, they would be the fifth-largest country in the world.
- Hispanic women and Latinas have the largest group of women workers in the U.S., numbering over 12 million, and accounting for 16% of the female labor force.
- Hispanics and Latinos play a significant role in making America run. Frontline workers constitute about 70% of the U.S. workforce, including 33% Hispanic workers.
- Nearly one in four new businesses in the U.S. is Hispanic or Latin-owned, and Hispanic or Latin-owned businesses contribute over $800 billion to the US economy annually.