THE NEW MAINSTREAM ECONOMY
The facts are clear: U.S. Latinos are making America younger, more entrepreneurial, more likely to be employed, and increasingly affluent. They are contributing disproportionately to America’s productivity and economic growth. The Latino Factor is a critical driver of America’s New Mainstream Economy.
LATINOS ARE GROWING AMERICA’S WORKFORCE AS BABY BOOMERS RETIRE
- From 2010 to 2015, 70% of the U.S. workforce increase is attributed to U.S. Latinos.
- From 2007 to 2012, Latino-owned businesses increased 47%, while non-Latino businesses shrank by 2%.
- By 2020 (not far away) U.S. Latinos will make up 74% of the growth in new workers.
- Over 10,000 Baby Boomers retire every day.
LATINOS ARE INCREASING U.S. PRODUCTIVITY and GDP
- U.S. Latinos produced $2.13 Trillion Gross Domestic Product (GDP) in 2015.
- At 58.6 Million, Latinos are 18% of U.S. population.
- From 2007 to 2012, U.S. Latinos accounted for 86% of total net new business formations in America.
LATINOS ARE LEADERS IN THE USE OF TECHNOLOGY
- The percentage of internet-using Latino adults has increased from 64% to 84% between 2009 and 2015, a growth rate faster than that of whites (80% to 89% internet use in the same period).
- 94% of U.S. Latinos say they use a mobile device to access the internet, compared to 85% of white internet users.
- On a typical weekday, three-quarters of U.S. Latinos get their news from internet sources, nearly equal to the share who do so from television.
- Latinas are adopting all types of technology at a higher pace than U.S. females. Online Latinas are more likely than their non-Hispanic white counterparts to own smartphones at 77% (vs. 55%).
- Latinos are heavy social media users—over-in dexing compared to non-Hispanics on their usage of Facebook (77% vs. 73%), YouTube (62% vs. 58%), Instagram (40% vs. 30%), and Snapchat (32% vs. 21%).
- Latinos are 62% more likely than non-Hispanics to rely on social networking sites for healthcare information.
TAPPING THE LATINO MARKET IS KEY TO CONSUMER SALES GROWTH
- U.S. Latinos drive approximately 70-100% of sales growth for automobile makers, including Honda, Ford, Chevy, Hyundai and Kia.
- In the year ended October 2017, U.S. Latino consumers out-spent non-Latino consumers per capita in 12 of the 16 primary (FMCG) fast-moving consumer goods landscape.
- Latinos purchase 23% of all movie tickets.
- 75% of the $1.5 Billion of tickets sold to the movie franchise Fast & Furious have been purchased by non-Caucasions.
- U.S. Latinos index 16% higher than the rest of the population in the usage of mobile and social media.
LATINOS WILL SUSTAIN THEIR CONTRIBUTIONS OVER TIME
- The average age of U.S. Latinos is 29, versus 43 for Anglo Americans.
- Latinos also have a lifespan that’s 3 years longer than the rest of the population.
- Latinos are America’s long-term consumers and buyers of goods and services.
IMMIGRANTS ARE IMPROVING AMERICA’S ECONOMY AND LAW & ORDER
- Immigrant-led households across the country collectively paid $223 Billion in federal taxes and $104 Billion in combined state and local taxes in 2014.
- The Social Security Administration estimated that unauthorized immigrants were responsible for a $12 Billion revenue increase for Social Security in 2010 alone.
- Ending DACA would reduce Social Security contributions by $33.1 Billion over a decade.
- About 4% of the U.S. population consists of immigrants from Mexico; that group creates almost 10% of new businesses in the U.S.
- Foreign-born people make up more than 13% of the U.S. population, but only 5.6% of inmates in federal, state and local prisons are foreign-born.
- The incarceration rate for native-born Americans is 1.53% compared to 0.85% for undocumented immigrants and 0.47% for legal immigrants.
- From 1990 to 2013, when the U.S. population that is foreign-born increased from 7.1% to 13.1%, the violent crime rates plummeted 48% across the country.
- Only two-tenths of a percent of DACA enrollees have been removed from the program after committing crimes or being identified as gang members.
LATINOS ARE CREATING JOBS FOR AMERICA
- 86% of all net new businesses were formed by Latinos.
- In the last decade Latinos launched the majority of all new businesses in the U.S.,generating almost 4.3 Million new companies.
- Latino-owned businesses with employees create nearly 3 Million American jobs.
LATINOS ARE CONTRIBUTING TO AMERICA’S INCOME GROWTH
- Since 2005, 29% of America’s growth in real income has been from U.S. Latinos.
- U.S. Latino purchasing power is growing 70% faster than non-Latino.
- By 2020 Latino purchasing power is projected to top $1.7 Trillion.
EDUCATION IS A LATINO IMPERATIVE
- In just 5 years, Latinos will be 30% of all public school students.
- In 2014, 35% of all U.S. Latinos age 18 to 24 were enrolled in college.
- The increase in college enrollment is larger among Latinos than any other cohort.
- However - the U.S. will need 11.9 Million additional Latino degree holders by 2050 to bring that number to our national average.
- 83% of Latinos surveyed say education was important to their vote in 2016.
VOTER PARTICIPATION BY LATINOS CAN INFLUENCE ELECTIONS
- 2016, 9.2% of voters in the presidential election were Latino.
- In 2016, 28% of Latino voters were first-time voters. That compares to only 15% of African-American voters and 16% of white voters being first-time voters.
- Latino eligible voters are growing fast at more than 66,000 every month.
- Still not even half of the Latino population is voting age yet.
- The 115th Congress has a record 45 Latino members.
- Latino influence on the country’s direction could be much greater if the voter participation rate increased from the 48% of eligible voters who actually voted in 2012.
GROWTH IN HOME OWNERSHIP IS BEING DRIVEN BY LATINOS
- Since 2000, U.S. Latino households represent 42% of overall household growth in this country.
- In 2016, Latinos accounted for 56% of the growth in homeownership.
- From 2010 to 2030, U.S. Latinos are projected to account for 52% of all new homeowners in America.
LATINOS IMPACT AMERICAN CULTURE
- The #1 Instagram Influencer is a Latina -- Selena Gomez -- with an astounding 133 Million followers in 2018.
- As of 2017, Shakira was Facebook’s “most liked” person on the planet with over 100 Million followers.
- The #1 streamed song of all time is “Despacito” with 4.8 Billion streams.
- The “Fast and the Furious” film franchise has now earned $4.4 Billion worldwide, making it the most successful franchise in Universal Studios history and the eighth highest-grossing film series in of all time.
LATINAS ARE A GROWING ECONOMIC FORCE
- From 2007 to 2012, Latina-owned companies increased 87%.
- Between 2013 and 2015, 74% of Latina females enrolled in college immediately after completing high school, versus 72% for non-Latina females.
- Latinas are more likely than other females to have bought a first home in the past year.
- 86% of Latinas report that they are the primary decision makers in their household spending.
- 23% of all U.S. births in 2011 were to a Latina mom.
LATINOS ARE CREATING A POSITIVE FUTURE FOR AMERICA
- From 2000 to August 2017, the Latino population grew 62.8%, compared to 15.2% for the population as a whole.
- Millennials are expected to overtake Boomers in population in 2019 as their numbers swell to 73 Million and Boomers decline to 72 Million.
- Over 24 Million of those are Latino Millennials, comprising just under half of the total U.S. Latino population.
- 63% of Hispanic families have children under age 18 compared to 40% for non-Hispanic white females.
- 21% of civilian employed Latinos age 16 and older worked in Management, Business, Science, and Arts occupations in 2016.
- By the year 2060, Latinas will represent thirty percent (30%) of the U.S. female population, and will become dominant consumers across many industries.