Hispanic
Demographics
Highlights:
Largest minority
group – 42.6 million (PR included),
increasing by 1.7 million a year
Purchasing power:
$630 billion for 2002 equal to 9th
largest economy in world.
Youngest minority
group: One of three under 18 – 44.7%
under 9
Cost of college a
barrier: 2% decrease in total college
enrollment
Source: Hispanic
Association of Corporate Responsibility
(HACR) 2002 Hispanics Today
http://www.hacr.org/statistics.htm
Largest Minority
Group: The Hispanic community
represents 42.6 million people in the United
States, including Puerto Rico. Its
size is larger than the population of Canada,
Spain or Argentina, and it is estimated
to grow by more than 1.7
million a year, 100,000 every three
weeks, or 5,000 people a day.
Exploding Annual
Purchasing Power: The annual
purchasing power of Hispanics in the United
States, including Puerto Rico is
estimated at $630 billion for 2002,
according to Santiago & Valdés
Solutions. At $630 billion, the Hispanic
community’s purchasing power represents
the 9th largest economy in the world,
larger than the GNP of Brazil, Spain
or Mexico.
Youngest Minority
Group: The Hispanic community is also
the youngest population group in the
nation. Today, one of every three
Hispanic is under the age of 18, and 44.7
percent is under the age of nine. For
non-Hispanic whites, only 27.6 percent of
the population is under the age of nine.
2nd Largest Segment U.S. Workforce: In
today’s U.S. civilian labor force,
including Puerto Rico, Hispanics are the
second largest segment, according the
Bureau of Labor Statistics (BLS). They
also represent 10.3 percent of the
private sector’s workforce,
according to 2000 data from the Equal
Employment Opportunity Commission.
Rising Cost of
College Education Is a Barrier: The
rising cost of education and the decrease
in the availability of Pell grants, which
now cover only 60 percent of tuition
rather than 98 percent as in 1986, have
increased the barriers to higher
education for many Hispanics. In fact,
the changes in the Pell grant program
contributed to a 2 percent decrease in
total college enrollment.
Hispanic-Owned
Businesses Growth: According to the
1997 Economic Census released in March
2001, Hispanic-owned firms account for
nearly 6 percent of all businesses in the
United States. Hispanics owned nearly 1.2
million firms with gross receipts of more
than $186 billion employing over 1.3
million people. Assuming similar business
growth rates for 1992-1997, Hispanic
businesses could surpass the 1.8 million
mark in 2002.
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