The economic might of Latinas: a catalyst for U.S. prosperity

$1.3 Trillion 

That’s how much Latinas contributed to the American economy in 2021, according to the U.S. Latina GDP report released earlier this year.  

That is truly impressive.  

How impressive?  

Well, the Latina economy is bigger than that of the Netherlands and Switzerland. 

If they were a state, they would be the fourth richest state in the nation, below only California, Texas, and New York.  

Latinas are a boon to the American economy, and it’s in America’s best interest to tap into their immense economic potential by enacting freedom-focused policies that will allow all Americans to reach their full potential and contribute to society.  

Latinas earn more, work more, and are more educated than ever before. 

Over the last decade, Latinas have led an unprecedented rise in key socioeconomic indicators. 

Whether that’s economic output, employment numbers, income, or educational attainment, Latinas are on a roll.  

According to the Latina GDP report:  

• Latinas more than doubled their output between 2010-2021, going from $660 billion to over $1.3 trillion. 
• There were twice as many Latinas with a bachelor’s degree in 2021 than in 2010
• More than 6 in 10 Latinas are now part of the labor force — higher than the average for non-Hispanic women.
• Latina wages and incomes rose by almost half between 2010-2021, far higher than the average American.  

The data is clear: Latinas are a powerful engine for the American economy, one that is and will be critical to ensure decades of prosperity.   

There’s so much more Latinas can do. We just need the right policies.  

Hispanic women have made great strides in their economic status thanks to their hard work and tenacity. Yet, they face many government barriers keeping them from fully realizing their potential.  

The government’s needless regulation of the labor market prevents thousands of Latinas and Latinos from working as independent contractors, taking away their ability to have the work flexibility that better suits their lives

For Hispanics, independent work is a gateway to the labor market.

Read @JudyPino‘s take on how the DoL’s new Independent Contractor rule could create a barrier to this type of work here: https://t.co/dZeg2JzjS7

— The LIBRE Initiative (@LIBREinitiative) April 2, 2024

As you and I know, Washington’s bad economic policies over the last four years have caused a 40-year record-high inflation rate. Inflation hits Latinos the hardest, as they are more likely to spend a higher share of their income on basic goods and services than the average American.  

The regulatory overreach from federal and local governments has made it extremely hard for entrepreneurs to set up shop and create wealth in their communities. As Latinos are more likely than any other demographic to be entrepreneurs, these regulations hit Latino men and women particularly hard.   

Latinas have built their wealth despite a hostile regulatory environment — imagine how much success they would bring to America if we got the government out of the way and allowed them to build the future they want.  

Moreover, polls show Latinas are looking for more economic opportunity and support policies that will expand economic freedom for all Americans.   

That’s why we at The LIBRE Initiative support policies that will reduce government overregulation, break down barriers keeping people from their full potential, and create a regulatory environment that welcomes — not punishes — innovation and hard work.  

The Path to Protecting Prosperity in 2025 

As 2025 rapidly approaches, there’s one policy LIBRE is getting ready to push in Congress: Extending the 2017 Tax Cuts and Jobs Act signed into law by President Donald Trump.  

This law which returned billions of dollars to the pockets of hardworking Americans, helped thousands of small businesses innovate and thrive, boosted the American economy, and made prosperity possible for millions.  

If you want to join the movement and be part of a nationwide grassroots effort to push for pro-growth policies, sign up for our newsletter here.