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Trump will name more conservative judges. He may even pick a majority of the Supreme Court; Both sides react as Missouri reverses near-total abortion ban Literacy initiative to implement 250 new early-education activations in PA.

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President Biden asks Americans to turn down the temperature, House Speaker Mike Johnson promises an aggressive first 100 day agenda and Democratic governors vow to push back on Trump's plan for mass deportations.

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Texas women travel some of the longest distances for abortion care, Californians the shortest, rural living comes with mixed blessings for veterans, an ancient technique could curtail climate-change wildfires, and escape divisive politics on World Kindness Day.

Report: Latinos in AZ are an economic powerhouse

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Monday, October 14, 2024   

Latinos in Arizona are an economic powerhouse, according to a new report. It shows the United States gross domestic product for Latinos was more than $3.6 trillion in 2022. To put it into perspective, as a standalone economy, it would be the fifth largest in the world.

A Latino Data Collaborative report showed the significant and influential economic contributions made by U.S. Latinos, who account for just under 20% of the nation's population. For Arizona, the number jumps to more than 30%.

José Jurado, research economist at Arizona State University and a contributor to the report, said among the 10 largest Latino economies in the U.S., Arizona has the third-largest Latino contribution to its GDP growth.

"It's important to notice that this growth is really coming from three pillars," Jurado explained. "The first one is education, the second one is a youthful population that is growing and rapidly joining the labor force and the third one is entrepreneurship."

The report found educational attainment among Latinos is on the rise. Between 2010 and 2022, the number of Latinos with at least a bachelor's degree rose almost 5%. While the U.S. economy saw a decrease of about 673,000 working-age people between 2021 and 2022, Latinos added 725,000 individuals to the pool.

Jurado contended the U.S. economy is clearly reliant on Latinos, as many not only contribute as employees but also play a vital role as entrepreneurs.

Latinos in Arizona have added more than $31 billion to the state's economy between 2017 and 2022, with manufacturing being a key driver. Jurado emphasized industry has noticed and is tapping into Arizona's economic vitality.

"My suspicion is that this growth is being concentrated," Jurado observed. "To some extent in the states in the southwest that are receiving a lot of investment from companies such as TSMC here in Arizona."

Jurado said current trends show Latinos in Arizona and across the country will be responsible for further sustained economic growth in the future.

Disclosure: Arizona State University Media Relations and Strategic Communications contributes to our fund for reporting on Education, Native American Issues, and Social Justice. If you would like to help support news in the public interest, click here.


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