Latino GDP Report for 2021

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Latino GDP Report for 2021
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Abstract

The Latino Donor Collaborative is a nonprofit, nonpartisan organization committed to promoting a positive view and representation of Latinos across the United States. Every two years the organization commissions the writing of a comprehensive report on the economic contribution of Latinos living in the United States. The report for 2021 revealed the continuing increase of Latino GDP (gross domestic product) by several billion dollars between 2010 and 2019—an increase that is 57 percent more rapid than the U.S. GDP as a whole. American Latinos on their own constitute a GDP comparable in size to that of France, the world’s seventh-largest economy. Latinos also provided much fuel to drive the U.S. economy in the growth of participation in the American labor force, of which they accounted for 68.2 percent, and total consumption, which was measured as growing 123 percent faster compared to non-Latino consumption. From 2017 to 2019, the growth of real Latino GDP averaged 5.63 percent, roughly twice the rate of the entire U.S. economy. Accompanying the impressive gains made by Latinos to the health of the economy, the number of Latinos acquiring a bachelor’s degree or above increased almost three times faster compared to non-Latinos.

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