The National Council of La Raza is the largest national Hispanic civil rights and advocacy organization in the United States. The Council recently published: Latinos in the Sunshine State: Building a Brighter Economic Future. After reading this report, one could argue that the Hispanic community’s economic well-being provides insight on the economic health and future of this nation. For instance, Latinos represent one of the fastest-growing segments of the U.S. population. By 2050, the U.S. Hispanic population is estimated to reach 106 million, representing one out of every four individuals in this country.
Here are a few findings from the report:
Latino communities in Florida continue to face challenges that hinder wider economic prosperity. Contributing factors include declines in median household income and marked income inequalities for Latinas who earn an average of 59 cents for every dollar when compared to White men in Florida. Additionally, household net worth is strikingly low. Three out of every four (75.6%) Latino households in Florida do not have enough savings to live at poverty level for three months without income.
Also noteworthy, Latinos represent the largest population in the labor force (63.9% compared to 60.6% overall) in Florida. At the same time, Latinos are experiencing significant increases in business ownership and increases in purchasing power. College degree attainment is also on the upward trend. In fact, Florida International University, a Florida Consortium university is the #1 Hispanic-serving institution of higher education. Florida International University graduates the highest number of Hispanic students in the state and nation.
In summary the report underpins the importance and need for thoughtful engagement, partnerships and development within the economic development ecosystem in Florida. Fortunately, this is happening across the state. The Florida Consortium of Metropolitan Research Universities is committed to fueling the economic engine in this state and will continue to work collaboratively with our partners in higher education and the business community at large.
Click here to read the full report, learn about economic indicators and the council’s recommendations.
Later this month the National Council of La Raza will hold its annual conference in Orlando, July 23- 26. This event is expected to draw the largest convening of leaders working to make positive strides in the Hispanic community, we hope to see you there.