Latina women contributed $1.3 trillion to the United States Gross Domestic Product (GDP) in 2021, a remarkable increase from the $661 billion recorded in 2010. According to AP, this growth rate is nearly three times higher than that of non-Latinos during the same period, based on a new report funded by Bank of America and conducted by professors from the University of California in Thousand Oaks and UCLA.
The report, which draws on economic and demographic data from U.S. agencies, reveals that "Latinas are drivers of economic vitality in the United States, breathing life into the nation's economy," stated Matthew Fienup, an economist and one of the study's authors, during a Zoom presentation.
Fienup added in a press release that "Latinas outperform their gender and ethnic peers in key economic indicators, including record levels of labor force participation, educational achievements, and income growth," as reported by the same source.
The economic contribution of $1.3 trillion from Latinas is roughly equivalent to the GDP of Florida, surpassed only by California, Texas, and New York, according to the U.S. Bureau of Economic Analysis.
Economic Impact of Latinas in the U.S.
Here are some key questions and answers related to the economic impact of Latinas in the United States, based on the recent study.
What was the economic contribution of Latinas to the U.S. GDP in 2021?
Latinas contributed $1.3 trillion to the U.S. GDP in 2021.
How does the growth rate of Latina contributions compare to non-Latinos?
The growth rate of Latina contributions is nearly three times higher than that of non-Latinos during the same period.
Which states have a higher GDP than the economic contribution of Latinas?
The states with a higher GDP than the economic contribution of Latinas are California, Texas, and New York.