Hispanic women are making significant contributions to the U.S. economy.
A report by Bank of America found that Latinas are responsible for 30.2% of growth in the U.S. labor force since 2010. The data also shows that Hispanic women in the U.S. contributed to a total economic output equal to $1.3 trillion in 2021.
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Jennifer Auerbach-Rodriguez, an executive focusing on strategic growth markets at Merrill Wealth Management, told Scripps News, "$1.3 trillion is a massive number ... it is larger than the economic contribution of Florida, but it is also greater than the economies for 47 to 50 of the states in the United States. It is incredible ... it is about levels of education, it is about labor force participation, it is about real income growth. It is a story about entrepreneurship."
The data found that Hispanic women are major economic drivers for the U.S. economy.
Auerbach-Rodriguez said, "It is incredibly powerful to see not only Latinos now representing $3.6 trillion in GDP, but in the role that specifically Hispanic women play."
The research, funded by Bank of America, was called the "first of its kind" in a statement from the bank — which was led by professors Matthew Fienup, a Ph.D at California Lutheran University and David Hayes-Bautista, a Ph. D at UCLA's Geffen School of Medicine.
Bank of America said in their research findings that the Latina contribution to GDP "grew at 2.7 times the rate of the GDP of Non-Hispanics between 2010 to 2021."
