Inaugural U.S. Latina GDP Report Finds Latinas Contribute $1.3 Trillion in GDP
A new report on the Gross Domestic Product (GDP) of Latinas in the U.S., funded by Bank of America, reveals that Hispanic women in the country contributed $1.3 trillion to GDP in 2021, representing a 51.1% growth compared to 2010. The report highlights that Latinas’ economic growth is 2.7 times faster than that of non-Hispanic women, driven by their increased labor force participation, education and income growth. In addition, the labor force participation of Latina women increased 32.9% between 2010 and 2021, far outpacing the 2.7% growth of non-Hispanic women. There was also a 103% increase in the number of Latinas with higher education, compared to 38.3% for non-Hispanics. Latinas’ earnings grew by 46%, compared to 18.5% for non-Hispanic women.
This report highlights the significant contribution of Latinas to the U.S. economy, surpassing even the size of Florida’s economy. The researchers behind the study underscore that Latinas are a driving force of economic vitality in the country, integrating the hard work of their previous generations with rapid growth in human capital.