New research available, click here to see The 2024 Official LDC U.S. Latino GDP Report
The 2023 Official LDC U.S. Latino GDP Report, by researchers from the L. William Seidman Research Institute at ASU’s W. P. Carey School of Business and in partnership with Wells Fargo, provides a comprehensive analysis of the immense contributions of U.S. Latinos to the national economy. Now in its sixth annual edition, this report is a critical resource for understanding how the Latino cohort drives economic growth. The 2023 edition highlights that U.S. Latinos generate a staggering $3.2 trillion in GDP, positioning them as the fifth-largest economy in the world, ahead of countries like the United Kingdom and India.
This report delves into key areas, showcasing how U.S. Latinos play a pivotal role in the U.S. economy as consumers, producers, and business leaders. The data reveals that Latinos are responsible for 20.9% of the real GDP growth in the U.S. between 2011 and 2021. Their contributions are particularly evident in states like California, Texas, and Florida, where Latino-generated GDP ranks them among the top global economies if they were independent nations.
Moreover, the report discusses the impressive growth in Latino labor force participation, educational attainment, and income levels. U.S. Latinos have the highest labor force participation rate in the country, and their income growth rate has outpaced that of non-Latinos by a significant margin. The report also highlights the increasing influence of Latinos in the business sector, with a notable rise in high-income earners and a strong presence in various industries such as real estate, manufacturing, and healthcare.
For those interested in exploring the broader impact of Latinos across different sectors, the 2023 Official LDC U.S. Latino GDP Report connects to discussions in other key publications, such as the 2024 LDC Comprehensive Handbook on U.S. Latinos. These insights emphasize the vital role of Latinos in maintaining and accelerating the U.S. economy’s momentum.
To download the full report and access detailed data, visit the Latino Donor Collaborative website.
