Hispanic Americans currently make up nearly one-fifth of the American population, according to 2022 Census data, and they are the largest racial or ethnic minority group in the country. They have also become a powerful force in the economy, having contributed an estimated $3.2 trillion of economic output in 2021, according to a report last month by the Latino Donor Collaborative — which would give them the fifth-largest GDP in the world if they were grouped as an individual nation. READ MORE AT FINANCIAL PLANNING

In October 2023, the U.S. Department of the Treasury reported that roughly 5 million Latinx-owned businesses operated nationwide. These companies generate over $800 billion in annual revenue with an economic output of $2.8 trillion. 

That report also revealed that this share is growing. In 2021, almost 25 percent of the entrepreneurs behind new business applications were Latinx. And between 2019 and 2023, the share of self-employed Latinx workers across the country grew by 26 percent. READ MORE AT BANKRATE

few years back, my siblings and I began what would turn out to be a long, somewhat arduous conversation: What’s going to happen with Mom? Our mom was getting older, and we needed to start thinking about what her golden years would look like, considering the possibilities that could come with caring for an elderly parent. The entire exercise, thus far, has led to arguments and a sense of straying further from the light. READ MORE AT THE LOS ANGELES TIMES

At the beginning of the CTA’s Red and Purple Modernization (RPM) Phase One project, the transit agency set robust hiring and workforce goals to ensure that this transformational project – the largest capital investment project in CTA history – didn’t further contribute to the low numbers of Black individuals seeking and thriving in careers in construction. 

CTA has dedicated a team – CTA Diversity Programs – that works with various organizations to provide opportunities to small and diverse businesses. Since the beginning of the RPM project back in 2019, the CTA Diversity Programs team worked with RPM contractor Walsh-Fluor Design-Build Team to develop Small Business Enterprise (SBE) and Diverse Business Enterprise (DBE) goals specifically for contractors working on RPM Phase One, as well as robust workforce goals to ensure that Chicago’s communities benefit from this historic investment. To date, DBE goals are being met, exceeding the percentage goal of 20% and $314M awarded in DBE contracts. Furthermore, the 19.6% minority workforce goal has been dramatically exceeded with 52.7% of the hired workforce identifying as a minority and $47.4M paid in wages among those laborers. 

• Adrian Mobley, an Englewood native, is the owner of Air & Wellness Safety Training, an MBE-, WBE- and DBE-certified health and safety consulting firm based on Chicago’s South Side. Through RPM’s diversity efforts, Adrian received financial guidance and resources, leading her to bid on and be awarded flagging services on the project. Since her contract began, she has hired more than 25 full-time employees and is growing the business to one day pass down to her daughters, who also work on the RPM project. 
• Pierre Starks, a Chicago native, is a Local 1 Union iron worker who went from apprentice to journeyman while working on RPM. Since working on the project, Pierre has been able to save money to buy a home for his family that has a backyard for his two sons.

To learn more about CTA’s diversity efforts, please visit transitchicago.com/diversity-programs.

U.S. Latinos are key when it comes the nation’s engineering and technology workforce, according to a new joint report from the Society of Hispanic Professional Engineers (SHPE) and the Latino Donor Collaborative (LDC). According to the report, the economic contributions the Latino community makes to the U.S. are immense. The contributions are significant enough that if the national Latino population were its own country, it would have the fifth-largest GDP in the world, $3.2 trillion, despite comprising only 19.1% of the U.S. population. READ MORE AT DIVERSE EDUCATION

Hispanic American financial institutions were created to provide services to low-income and minority communities, particularly Hispanic American communities. Historically, Hispanic Americans have been affected by discriminatory lending practices like redlining and experienced limited economic opportunities to build wealth.

Hispanic American banks were founded in areas where minority communities lived. These financial institutions were able to connect with their local communities and fill the banking gap by addressing areas like language and culture. READ MORE AT PERSONAL FINANCE

Millions of patients are not getting the quality care they deserve from doctors who look like them and speak their language. Research has shown that newly trained physicians of color answer the call to return to their communities and provide culturally competent care that results in improved patient outcomes.

At the same time, the Latino community needs increased representation for Latino physicians in leadership positions on college campuses and in hospitals. We must act and hold educational and health care organizations accountable for the sake of our patients. READ MORE AT CAL MATTERS

The road to higher educational attainment runs through every Hispanic household in America. With a population of 63.7 million, Hispanics are the country’s largest minority group, and today one in every five students in higher ed is Hispanic. The Lumina Foundation-Gallup study conducted last year found that about one in four Hispanic students say they frequently or occasionally experienced discrimination, harassment, and disrespect and felt unsafe as they pursued their educations. READ MORE AT FORBES

Financial services and the tools they provide can be invaluable for economic mobility and wealth building, but many of the benefits have been hard to reach for Latinos, many of whom live with unmet needs. While they represent about 20 percent of the US population and are a growing economic bloc, Latinos have not had access to many of the benefits of financial services. READ MORE AT MCKINSEY & COMPANY

The total economic output of U.S. Latinos reached $3.2 trillion in 2021, inching closer to Germany's and staying ahead of India. A report shows U.S. Latino buying power and economic output grew by more than 14% despite the pandemic's disproportionate impact on Latino communities.

While the report focused on the overall strength of the U.S. Latino economy, it did not address the massive economic inequalities still facing Hispanics nationwide. READ MORE AT AXIOS

Florida is a melting pot of cultures and for many it is an opportunity to seek a better life. It is no secret that the Hispanic and Latino community’s contributions to the U.S. economy have been nothing short of impactful. In fact, a 2022 study found that U.S. Latino economic output would rank 5th in the world's gross domestic product if U.S. Latinos were an independent country. READ MORE AT NBC 6 SOUTH FLORIDA

The Hispanic community is taking the U.S. economy by storm. Projections suggest that Latinos will hold $2.6 trillion in purchasing power over the next three years, a growth that outpaces that of non-Hispanic households. Despite these promising statistics, Latino individuals are still behind financially, for a variety of reasons. READ MORE AT MORNINGSTAR

Hispanics will be spending more on holiday shopping this year and are more likely to buy gifts online than in the past, according to a national survey by the Florida Atlantic University Business and Economic Polling Initiative (FAU BEPI). READ MORE AT FLORIDA ATLANTIC UNIVERSITY

The United States is a diverse nation of consumers with different wants and needs, backgrounds, opinions, values, and expectations. However, not all voices are always clearly heard, often leading to decision-makers remaining ill-informed. With the holiday season in full swing, here are key insights about U.S. Hispanic consumers regarding holiday shopping and how they compare to the non-Hispanic U.S. population. READ MORE AT CIVIC SCIENCE

The holiday season is upon us and, amid the juggle of gatherings with family and friends, it’s always good to reach out to clients as well. Showing gratitude to your clients during the holidays is a great way to keep connections strong.

Many real estate leaders across the country express their appreciation through cards, gifts and events for their agents, clients, neighbors and communities. They spread joy through their gestures large and small and provide community support where they can.

Here are what some brokers and brokerages are doing to reach out this holiday season. READ MORE AT NATIONAL ASSOCIATION OF REALTORS

A Gallup poll found that over half of Latino college students considered leaving college last year, a steep increase from 2020.

For decades, Hispanic enrollment at four-year colleges and universities has been on the rise, and it saw a new high in 2022. But difficulties, particularly with affordability and accessibility, are increasingly making it hard for Latino students to remain enrolled, according to a Lumina Foundation-Gallup “State of Higher Education” poll. READ MORE AT NBC NEWS

The Hispanic population in the United States has been one of the fastest-growing demographics over the past two decades. Still, there are a number of financial disparities between Hispanic and Latino Americans and their white peers, especially Latina women. Hispanic women earn a median annual salary of $39,511, compared with a median of $55,330 among white women and $61,740 for white men, according to Labor Department data.

Hispanic households of any race have a median net worth of around $31,700, compared with $187,300 among white, non-Hispanic households, the most recent Census Bureau data reveals. READ MORE AT CNBC

The U.S. Latino population, now about 1 in 5 Americans, is projected to continue increasing through the year 2060, when over 1 in 4 Americans are likely to be Latino, according to U.S. Census Bureau projections.

Hispanics are now 19.1% of the U.S. population but are projected to make up 26.9% of the population in less than four decades. Meanwhile, the non-Hispanic white population is projected to continue to decline from 58.9% now to 44.9% by 2060. READ MORE AT NBC NEWS

Hispanics and Latinos remain underrepresented in film, a trend that has carried for 16 years, according to a new report from the University of Southern California. Even when movies did feature Hispanic or Latino characters, they were usually stereotyped as immigrant or as having low income. READ MORE AT THE GUARDIAN

Only 34% of Hispanics believe they are saving enough or have saved enough for retirement, six points lower than the national average, according to a report by an insurance industry research company.

According to LIMRA, 50% of Hispanics say they worry about having enough money for retirement and The Latin Times, in conversations with several Hispanic workers and financial advisors, found out that there is a growing concern among members of this community regarding resources for a life after giving up work. READ MORE AT THE LATIN TIMES