US Latino Economic Output Surpasses $3 Trillion, Ranks 5th Largest Globally
The U.S. Latino economy has reached $3.2 trillion in 2021, growing two and a half times faster than the non-Latino economy over the past decade, according to a report by the Latino Donor Collaborative. If Latinos were an independent country, their GDP would rank fifth in the world. The Latino community's economic impact is particularly strong in California, Texas, and Florida. Despite the growth, a wage gap persists, with Latino workers earning 80 cents for every $1 earned by white non-Hispanic employees. Latinos' purchasing power in the U.S. reached $3.4 trillion in 2021, growing faster than their non-Latino counterparts.