'Giving Life To The U.S. Economy' U.S. Latinas Contributed $1.3 Trillion To The GDP — That's About As Much As Florida

When we talk about the U.S. economy, we often focus on the big numbers — millions, billions and trillions. But behind these massive figures are real people making an impact every day. One of the most powerful stories in recent years is the contribution of U.S. Latinas to the economy. 

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In 2021 alone, Latinas contributed $1.3 trillion to the GDP, according to a 2024 report by new report by professors at California Lutheran University and UCLA. Their economic impact is about as much as the entire state of Florida, the fourth-largest economy in the country.

The economic influence of Latinas in the U.S. has been growing at an impressive rate. From 2010 to 2021, the GDP generated by Latinas grew by 51.1%, far outpacing the growth of the broader U.S. economy. When you consider that the overall GDP of non-Hispanics grew by just 18.8% during the same period, that’s impressive. Latinas are driving economic growth at nearly three times the rate of other groups.

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The entire domestic Latino community is making a big impact — reaching a total GDP of $3.2 trillion in 2021 — but Latinas are at the forefront. 

One major reason for this growth is that Latinas are active in the workforce. They are more likely to be working or looking for work compared to non-Hispanic groups, and this strong participation, along with their fast-rising education levels, has led to a big increase in their incomes.

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Despite all this, they still face many big challenges, and one in particular — the wage gap. On average, Latinas earn only 57 cents for every dollar earned by a non-Hispanic white man. This gap persists even among those with the same level of education because, for example, a Latina with a bachelor's degree earns only 64.6% of what her white male counterpart makes.

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Plus, the pandemic hit Hispanic women particularly hard. In April 2020, nearly a quarter of Hispanic women had lost their jobs compared to just before the pandemic in February 2020. This was the steepest job loss of any group, with Hispanic women experiencing a 23% drop in employment, while Asian women saw a 19% drop, Black women 18% and white women 16%.

By continuing to invest in education, entrepreneurship and workforce participation, Latinas are helping to build a stronger, more vibrant U.S. economy.

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