From CNBC: 2024-09-17 12:57:43

Latinas in the US made significant economic contributions, contributing $1.3 trillion to the GDP in 2021, up from $661 billion in 2010. However, some economists believe their impact could be even larger, especially considering unmeasured contributions like childcare. Latinas also face challenges in the job market due to industry concentration.

Latinas are outpacing other groups in labor force participation, with their rate increasing by 7.5 percentage points from 2000 to 2021. Despite being hit hard by the pandemic, Latina GDP grew more than non-Latino GDP between 2019 and 2021. Their contributions are crucial for the economy’s vitality, as highlighted in a recent report by Bank of America.

The employment-to-population ratio for Latinas has increased significantly since the late 1970s, showcasing growth in job opportunities for the group. This growth, coupled with higher educational attainment, has resulted in income gains for Latinas, outpacing non-Hispanic women by 2.5 times from 2010 to 2021. Intergenerational shifts are also boosting Latinas’ economic impact.

Read more: Latinas contributed $1.3 trillion to U.S. economy, new report says. That number could be even bigger