Latino GDP records highest growth

U.S. Latino GDP has surpassed even last year’s all-time high and has grown faster than the GDP of any of the world’s top 10 economies, including China. Not only that, some reports in the U.S. reveal that it is equivalent to the fifth largest GDP in the world.

According to a study by UCLA’s Center for Latino Health and Cultural Studies and Cal Lutheran’s Center for Economic Research and Forecasting, Latino GDP will reach $3.7 trillion in 2022.

The chief demographer of the Latino GDP project and director of the Center, Dr. David Hayes-Bautista, tells us what they found.

In particular, he adds that when Covid hit and Latinos suffered the blows of this pandemic, we were essential workers.

He recalled that there was no food shortage, thanks to the work of Latinos.

Dr. David Hayes-Bautista, commented that Latinos did those risky jobs, with no insurance, little pay and even today there are still racist accusations against the community.

Dr. David Hayes-Bautista points out that despite not having health insurance, Latinos have had the highest labor participation rate of any group in the last 12 years and explains why.

He points out that in the state of California for 65 years, Latinos have had the highest labor force participation, because, he said, “we are very hard workers.”

Dr. David Hayes-Bautista, talks about the challenges would be faced in the economy without the contribution of Latinos.

Dr. David Hayes-Bautista highlights that the U.S. labor force continues to grow thanks to Latino workers.

He said that the contribution of Latinos to the wealth of the U.S. needs to be recognized, but unfortunately discrimination against our community continues and he calls for that narrative to change.

She also talked about the contribution of Latinas and their contribution to the US GDP.