The Latino Workforces Impact On American Business
Thousands of United States businesses depend on our strong Latino workforce each and every day
. Latinos comprise the largest ethnic minority in the country. In 2010, the estimated Latino population in the U.S. was 50.5 million, constituting 16 percent of our total population and making Latinos the largest ethnic minority in the country.
The Latino population has grown much faster than the U.S. population as a whole since 2000, a trend that is projected to continue in the coming years. The Latino population grew by 43 percent between 2000 and 2010, compared to a nationwide growth rate of 9.7 percent. By 2050, the Latino population is projected to comprise approximately 30 percent of the total population, or nearly 133 million people.
The Latino workforce is represented in a wide variety of industries. According to the 2010 census there were:
284,000 fire fighters
202,000 middle school teachers
74,000 chief executives of businesses
57,000 physicians and surgeons
30,000 lawyers
This is obviously only a small cross-section of Latino industries and professions, but it provides a snapshot into the current Latino workforce. Only about 19 percent of Latinos work in management and professional occupations. More than 26 percent work in service occupations; 21 percent work in sales and office jobs; 16 percent work in natural resources, construction, and maintenance jobs; and 17 percent work in production, transportation, and material-moving occupations.
There are a lot of statistics to digest here, and all point to the tremendous impact the Latino workforce has on U.S. commerce. These statistics are often surprising to many U.S. business owners who do not fully understand the many ways in which the Latino workforce impacts their businesses. A simple evaluation of their workforce will show how much their Latino workforce increases their bottom line.
The steady increase in the population and the number of skilled Latino workers means that the number of Latino-owned businesses is increasing as well. Latino-owned firms grew by 44 percent from 2002 to 2007 (data is still being generated from 2007 to 2011, but this huge increase is impressive in any era). Approximately 2.3 million businesses are owned by Latinos, and the revenue generated by these businesses was $345.2 billion in 2007, up 55.5 percent from 2002.
Considering the fact that the population during the 1990 census was 22.4 million for Latinos who were working or actively searching for a job, the growth of Latinos in the workforce by 2010 is impressive.
Latino employment has grown at a rate of 16 percent since 2000, whereas the general population has seen an average of 2 percent employment growth over the same period. According to the U.S. Department of Labor, Latinos represent:
13 percent of the professional workforce in the U.S.
19.4 percent of the agricultural workforce in the U.S.
25.1 percent of the construction workforce in the US.
25.1 percent of the hospitality workforce in the US.
Learn more about the ways Latinos are changing the landscape of the American workforce by calling 619.550.8052 or visiting www.ThinkBlueThinking.com.
by: Bruno Raynal
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