U.S. Latinas Contributed $1.3 Trillion To The GDP

Latinas contributed $1.3 trillion to the US gross domestic product (GDP) in 2021, up from $661 billion in 2010, with a growth rate nearly triple that of non-Latinos during the same period, according to a new report funded by Bank of America (BofA) and conducted by professors at California Lutheran University and UCLA, Claire Savage reported for the Associated Press (AP).

The $1.3 trillion economic contribution by Latinas is roughly equivalent to the GDP of Florida and is only surpassed by California, Texas, and New York.

The report was compiled using publicly available economic and demographic data from US agencies and shows "that Latinas are drivers of economic vitality in the US, giving life to the US economy," said economist Matthew Fienup, one of the study’s authors and executive director of California Lutheran University’s Center for Economic Research & Forecasting, during a Zoom briefing presenting the findings.

“Latinas outpace their gender and ethnic peers in key economic measures, including record levels of Latina workforce participation, educational attainment, and income growth,” he added in a press release.

The $1.3 trillion economic contribution by Latinas is roughly equivalent to the GDP of Florida and is only surpassed by California, Texas, and New York, according to the US Bureau of Economic Analysis.