When it comes to economic strength, one of the biggest powerhouses in the world isn’t even a country. It’s a population – the Latino population of the United States. If all the Latinos in our country were a separate cohort, their gross domestic product would rank number five in the world, up from number eight just three years ago.
This recent growth is a testament to the crucial role the Latino population has played throughout and after the COVID-19 pandemic, from offering more than $31.3 billion in spending power in Dallas-Fort Worth, to the success of Hispanic business enterprises, which compose 15% of small businesses. Yet though their economic growth is a driving force in the U.S., Latinos are underserved at catastrophic levels.
Latinos are essential to this country, from contributing to the American economy with $2.7 trillion of purchasing power annually to having the highest rate of entrepreneurship of any racial or ethnic group in the nation. Latino influence plays an extensive part in this nation’s history. However, despite these economic achievements, the Latino population needs support.
Recently, The Concilio, a 42-year-old organization that has paved the way for change for thousands of Latino families, presented its 2022 State of Latinos Report at the Communities Foundation of Texas. The room was packed with thought leaders who, like me, recognize that now is the time to take action to increase and enhance support for our Latino population and leverage the economic force they drive. The State of Latinos Report was chartered by The Concilio to raise awareness in two areas: the contributions of the Latino population and the disparities Latinos face in health, education and wealth.
The Concilio included its own data collected through a series of surveys from more than 1,800 Latino adults and high school students in the communities it serves. To ensure clear representation of the D-FW Latino population and given that no other research in the region has focused on the needs of this population, the report incorporates a compilation of data from the 2020 Census and third-party reports on similar topics.
The narrative about Latinos must be driven by this type of data so we can recognize their successes and devise a path forward to eliminate barriers they face. Doing so not only improves Latinos’ lives but also supports economic prosperity in the U.S. Here are some astounding data from the report:
- Education: Nationwide, 94% of non-Hispanic white adults have a high school diploma or higher, but only 75% of Latinos do. In Texas, 70% of Latino adults have a high school diploma. In Dallas-Fort Worth, that number falls to 53%. This crisis impacts our labor force and poverty rate.
- Health: Latinos have the highest uninsured rates of any racial or ethnic group in the U.S. In Texas, 27% of Latinos are uninsured versus 12% of non-Hispanic white people. The Texas Alliance for Health Care estimates a loss of $178.5 billion by 2040 if this trend continues, another indisputable crisis.
- Wealth: The most common age of Latino Americans is 11; the most common age of non-Hispanic white Americans is 58. This represents a tremendous transfer of economic power from an aging population to a population that is characterized by entrepreneurialism and small-business ownership. Even before the pandemic, Latinos have been drivers of economic growth for over a decade: during the Great Recession of 2007 to 2012, the number of non-Latino-owned businesses decreased by 2%. In the same period, Latino-owned businesses increased by 47%.
I have worked with many community members who do not have access to resources, do not qualify for government support, and generally feel intimidated when they try to access a service. These are real people whose statistics fall so low on the bell curve they usually get missed in reports like this. Until now.
The State of Latinos Report is the beginning of an action plan, designed to chart the progress of equity as change makers build lasting solutions. But this information isn’t just for think tanks and government leaders. You can play a role, too. Here’s how:
Download the report and check it out. Each section in the report is critical to understanding that education, health and wealth can only improve when all three areas improve collectively.
Then share what you’ve learned with your friends, family, and coworkers. Expanding the Latino narrative will help us embrace the truth about Latinos and rise to remove barriers.
Promote a more inclusive environment for all communities, including Latinos. For example, you can host a cultural competency workshop at your workplace or church through an organization like The Concilio.
The time to end inequities for Latinos is now. Together, we will, in a safe and shame-free environment, clarify the disparities Latinos face and how to help eliminate them.
Will you join us?
Florencia Velasco Fortner is the president of The Concilio, a Dallas-based nonprofit organization dedicated to building stronger communities and opportunities for Latino families. She wrote this column for The Dallas Morning News.
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