US Latino GDP up, National Heritage Month

Marien Lopez-Medina (Bloomberg/MSN, 9/27); Crystal Q., CC Liu (eds.), Wisdom Quarterly

Hey, Bestie, you know what HP stands for? - His Panic? - No, Hewlett-Packard. - Oh yeah!

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We're a very diverse group in the US.

The contribution of Latinos (Latinx, who are not Hispanic, from Spain, but from the Americas) to the US economy rose to $3.2 trillion in 2021.

This would rank fifth in the world if the group were an independent country, putting it just behind Germany (Europe's post-Hitler powerhouse) but ahead of the UK (with the most influential centralized banking system) and India (the world's largest country by population), according to a report out today (Wednesday, 9/27/23).

• National Hispanic Heritage Month (United States)

I'm proud that we're so rich (Sofia Vergara).

US Latinos, who have a high workforce participation, population growth, and increased productivity compared to other cohorts, also saw incomes rise.

During 2011-2021, the group’s income increase at an annualized rate of 4.7% compared to 1.9% for non-Latinos, according to the 2023 Latino GDP Report, which measures the cohort’s economic output in the country.

We're making progress in El Norte (Frida Kahlo).

Across the US, Latinos contributed 20.9% of real GDP growth during that decade, Arizona State University researchers said in the report, which was produced by the nonprofit Latino Donor Collaborative in partnership with Wells Fargo & Co.

Latinos made significant contributions to states like California, Texas, and New York, but among smaller states, the report’s authors observed “a silent revolution taking place.”

In the decade ending in 2021, South Dakota, North Dakota, and New Hampshire each saw Latino gross domestic income grow at a real, annual rate of at least 10%.

This data should inform the wider conversation about immigration in the US, Sol Trujillo, LDC co-founder and chair, said in an interview. More

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