A recent study conducted by HOPE has found that Latinas are driving economic growth in California – and the nation as a whole. HOPE surveyed Latinas to find out a little bit about who they are and what they are doing for work. This, coupled with the growing demographic of Latinas in the U.S., has shown that Latinas will soon be a large demographic worth paying attention to.
According to the survey, there are 27.9 million Latinas living in the U.S., or about 8.7 percent of the total U.S. population.
In California, Latinas make up 19.2 percent of the total state’s population. Not only are Latinas a fast growing demographic, expected to represent 1 in 4 women by 2060, they are also on average 17.8 years younger than white women. The study also found that more Latinas have access to an education growing by 6.9 percent to a total of 88.3 percent furthermore securing more financially stable futures.
But, the biggest news from the survey is that the number of Latina-owned businesses in California has increased by 111 percent since 2007.
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“We want to see Latina business owners get the support, the contracts, the capital,” HOPE executive director Helen Torres told LAWeekly. “If they have access to those, we see them growing their businesses and hiring more people.”
According to the study, there were 433,300 Latina-owned business in existence in 2016 in California alone.
Unfortunately, the increase in Latina-owned business and the growing Latina population has not translated into decreasing the wage gap.
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In fact, the study found that the wage gap has gotten worse for Latinas.
“The wage gap between Latinas and white, non-Hispanic men in California grew by nearly 5 percent between 2011 and 2015. Latinas earned less than 43 cents for every dollar earned by white, non-Hispanic men, lower than the 45 cents they earned in 2011,” the study states. “Latinas in the San Jose and Los Angeles metropolitan regions fared even worse, earning only 35.5 and 37.5 cents, respectively, for every dollar earned by a white man.”
Check out the full study here.