Hispanic Connect- Dedicated to Connecting the Hispanic Community

Hispanic Demographics

The Latino community represents 40.2 million people in the United States, including Puerto Rico. Its size is larger than the population of Canada , Spain or Argentina, and it is estimated to grow by more than 1.7 million a year, 100,000 every three weeks, or 5,000 people a day.

Purchasing Power: The annual purchasing power of Latinos in the United States , including Puerto Rico is estimated at $630 billion for 2002, according to Santiago & Valdes Solutions. At $630 billion, the Latino community's purchasing power represents the 9th largest economy in the world, larger than the GNP of Brazil, Spain or Mexico .

Younger Median Age: The Latino community is also the youngest population group in the nation. Today, one of every three Latinos is under the age of 18, and 44.7 percent is under the age of nine. For non-Latino whites, only 27.6 percent of the population is under the age of nine.

2nd Largest Segment U.S. Workforce: In today's U.S. civilian labor force, including Puerto Rico, Latinos are the second largest segment, according the Bureau of Labor Statistics (BLS). Latinos also represent 10.3 percent of the private sector's workforce, according to 2000 data from the Equal Employment Opportunity Commission.

Latino-Owned Businesses Growth: According to the 1997 Economic Census released in March 2001, Latino-owned firms account for nearly 6 percent of all businesses in the U.S. Latinos owned nearly 1.2 million firms with gross receipts of more than $186 billion, employing over 1.3 million people. Assuming similar business growth rates for 1992-1997, Latino businesses surpassed the 1.8 million mark in 2003.

Source: www.lbconexion.com