Taking a look at some Hispanic facts that provide insight about the rapidly growing community in the U.S.!

Our team at Westchester Hispanic Chamber Of Commerce has put together some facts about Hispanics that can help sum up the community’s place in the U.S. These Hispanic facts can help in the development of Hispanic businesses and individuals.

So read on and be enlightened!

Hispanics in Westchester County

  • In 2002 there were about 8,400 Hispanic-owned businesses in Westchester.
  • In 2013, the Hispanic population in Westchester County was at 22%, increasing almost 4% from the figure of 18% in 2005. (Source: Statistical Atlas)

U.S. Hispanic Demographics

EDUCATION

  • Only 22% of Hispanic households have student loans. (Source: Pew Research Center)
  • Hispanic college enrollment rate shot up to 35% in 2014, from 22% in 1993. (Source: Pew Research Center)
  • Hispanic high school dropout rate has dropped to 12% in 2014, from 32% in 2000. (Source: Pew Research Center)
  • The percentage of Hispanics age 25 and older that had at least a high school education in 2016 is 67.1%. (Source: S. Census Bureau)
  • The percentage of the Hispanic population age 25 and older with a bachelor’s degree or higher in 2016 is 15.3%. (Source: S. Census Bureau)
  • There are 5 million Hispanics aged 25 and older who had at least a bachelor’s degree in 2016. (Source: S. Census Bureau)
  • Over 1.6 million Hispanics aged 25 and older have advanced degrees in 2016 (e.g., masters, professional, doctorate). (Source: U.S. Census Bureau)

POPULATION

  • Hispanics are the fastest growing ethnic group in the U.S., accounted for 40% of the country¹s population growth between 1990 and 2000. (Source: S. Census Bureau)
  • The Hispanic population in the U.S. constitutes almost 18.1% of the total U.S. population in 2016. (Source: S. Census Bureau)
  • By the year 2060, Hispanics are expected to comprise 28.6% of the total U.S. population, 119 million. (Source: S. Census Bureau)
  • The U.S. population increased by more than 2.2 million people between 2016 and 2017, Hispanics accounting for 1.1 million, or about half (51%), of this growth. (Source: Pew Research Center)
  • The percentage of those of Hispanic or Latino origin in the United States who were of Mexican origin in 2016 is 63.2%. Another 9.5% were Puerto Rican, 3.8% Salvadoran, 3.9% Cuban, 3.3% Dominican and 2.5% Guatemalan. The remainder were of some other Central American, South American, or other Hispanic or Latino origin. (Source: S. Census Bureau)
  • The Hispanic population of California is 15.3 million. This was the largest Hispanic population of any state in 2016. (Source: S. Census Bureau)
  • The Hispanic population of Los Angeles County is 4.9 million. This was the largest Hispanic population of any county in 2016. (Source: S. Census Bureau)
  • More than one eight of the people in the United States are of Hispanic origin, with different historical backgrounds. (Source: S. Census Bureau)
  • The Hispanic population (ages 5 and older) that can speak English very well is 69%. (Source: Pew Research Center)

EMPLOYMENT AND INCOME

  • The poverty rate among Hispanics in 2016 is 19.4%. (Source: S. Census Bureau)
  • The percentage of Hispanics who lacked health insurance in 2016 is 16%. (Source: S. Census Bureau)
  • In 2015, almost 22% of Hispanics were living in poverty. (Source: Pew Research Center)
  • According to the 2015 data, about 67% of Hispanics work in the labor force. (Source: Pew Research Center)
  • Median annual personal earnings for Hispanics in 2015 dollars amount to $24,000. (Source: Pew Research Center)
  • Median annual household income for 2015 amounts to $44,800. (Source: Pew Research Center)
  • The number of prosperous Hispanic households (those with incomes of at least $100,000) rose 137% between 1990 and 2000 (Source: S. Census Bureau)
  • S. Hispanic purchasing power has surged to nearly $700 billion and is projected to reach $1 trillion by 2010, nearly three times the overall national rate of consumer purchasing power over the past decade. (Source: HispanTelligence®)
  • Current Hispanic purchasing power is 8.5% of total U.S. purchasing power, but will reach 11% by 2010, when taking into account factors such as the narrowing Hispanic vs. overall U.S. income gap and the increase in the number of Hispanic households with earned income. (Source: HispanTelligence®)
  • The net worth of U.S. Hispanics surpassed $534 billion in 2000, a 30% increase since 1998. (Source: HispanTelligence®)
  • Hispanics represent the largest minority group online with 6.9 million net users, followed by 6.6 million African Americans and 4 million Asians online, according to eMarketer’s web site.

BUSINESS AND ENTREPRENEURSHIP

  • Latino-owned companies have grown 31.6 percent since 2012, more than double the growth rate of all businesses across America (13.8 percent). (Source: S. Hispanic Chamber of Commerce)
  • The 4.4 million Latino-owned businesses in the United States contribute more than $700 billion to the American economy every year. (Source: S. Hispanic Chamber of Commerce)
  • Small businesses make up 98% of all businesses and create the majority of new jobs added to the economy. (Source: Small Business Administration)
  • Male-owned Hispanic employer firms reported sales of $264.2 billion. (Source: S. Census Bureau)
  • The estimated sales/receipts reported by Hispanic employer firms owned by women in 2015 are $61.2 billion. (Source: S. Census Bureau)
  • The number of the estimated number of Hispanic-owned employer firms nationally rose up from 298,563 or 4.7 percent in 2014 to 312,738 in 2015. (Source: S. Census Bureau)

At the WHCC, we seek to identify the high-value interventions, policy changes, and collaborations that will provide support to unlock the unmet Hispanic business potential!

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