The rise of remote work during the pandemic led several Silicon Valley venture capitalists to escape California, with its wildfires and high taxes. Miami, with a large Latino population, and Atlanta, with a large Black population, have both seen higher interest.
Data from Crunchbase compiled for Reuters showed startups with a Black or Hispanic founder got 3.5% of the record $311 billion U.S. venture funding in the year to Dec. 16, up from an average 2.5% in the previous five years.
Florida and
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December 10, 2021
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MAYOR LIGHTFOOT AND DCASE ANNOUNCE NEW “CHICAGO MADE” INITIATIVE TO STRENGTHEN CHICAGO’S TV & FILM INDUSTRY
Innovative workforce development program and public awareness campaign are outcomes of Mayor Lightfoot’s COVID-19 Recovery Task Force
CHICAGO—Mayor Lori E. Lightfoot and the Chicago Film Office at the Department of Cultural Affairs and Spec
Latinos will make up more than 1 in 5 U.S. workers by 2030. Yet despite high rates of job participation and entrepreneurship, a massive wage gap is one of the factors hindering their economic mobility, a new study has found.
The wage gap for Latinos is as high as $288 billion per year, according to "The economic state of Latinos in America: The American dream deferred," a report by McKinsey & Co. in partnership with the Aspen Institute, which was released Wednesday. READ MORE AT NBC NEWS
Latinos now make up 19% of the country’s population, and half of them are under age 29. And while America’s Latinos spend an estimated $1.7 trillion annually, the Hispanic Marketing Council says only 6% of overall industry investment is spent targeting the Latino community. READ MORE AT WTTW NEWS
Obesity and diabetes disproportionately affect Latinos in the United States, a group that comprises 18.4% of the population, or approximately 60.5 million people. Latinos are 1.2 times more likely to be obese than non-Latino Whites, according to HHS Office of Minority Health.
Almost 4 out of 5 (78.8%) Hispanic women are overweight or obese compared with 64% of non-Latino White women. Latinos are twice as likely to have type 2 diabetes (17%) than Whites (8%), according to the CDC. READ MORE AT M
A majority (62%) of Hispanic adults say having a darker skin color hurts Hispanics’ ability to get ahead in the United States today. Colorism is a form of discrimination based on skin color, usually, though not always, favoring lighter skin color over darker skin color within a racial or ethnic group. While it can be tied to racism, it is not necessarily the same. READ MORE AT PEW RESEARCH CENTER
There have been more new businesses formed so far this year than ever. Literally ever.
According to data from the US Census Bureau analyzed by the Economic Innovation Group, there were about 1.4m new startup applications filed with the government through 30 September 2021. That’s compared with 1.14m during the same period in 2020 and 987 thousand in 2019. Every year before had been significantly less. READ MORE AT THE GUARDIAN
Latinos are a fast-growing, young segment of the U.S. population that’s also highly entrepreneurial, yet businesses that Latinos start often struggle to get the financing they need to grow and succeed.
These businesses are among the “most overlooked opportunities for investors,” the Boston-based Bain & Co. wrote in a report released earlier this month. READ MORE AT PENTA
Latinos with an unhealthy response to chronic stress, like smoking or constantly eating junk food, tend to report fewer depression symptoms like hopelessness and restlessness in the long run than those with no dangerous coping mechanisms, according to an analysis.
Research has shown that stressors throughout life increase not only the body's wear and tear, known as allostatic load, but also the odds of having depression past age 60. But the study found the link was slightly weakened when Latino
Hispanics and Latinos make up almost 19% of the U.S. population (or 62.1 million out of more than 332 million), according to the 2020 Census. Keeping this projected growth in mind, SmartAsset examined data to determine the cities where Hispanics and Latinos fare best economically nationwide. This is SmartAsset’s first study on where Hispanics and Latinos fare best economically. As part of our ongoing diversity coverage, you can also read our studies on where Black Americans and Asian Americans
Hispanic Americans have long dealt with racial discrimination and unfair lending practices, contributing to a racial wealth gap between Hispanic and white families. A survey from the Pew Research Center found that 70% of Hispanic Americans said they didn't have emergency funds to cover at least three months of expenses during the pandemic, and more than half said they worried daily or frequently about keeping up with expenses.
Those already-grueling financial circumstances have only grown worse
Fear of never being able to pay off school loans is keeping many young Latinos in the U.S. from going to college or completing a degree, according to a report published in September. Latinos tend to have more difficulty repaying school debt than white student borrowers, according to Federal Reserve data, at the same time that they need more loans in order to afford tuition. READ MORE AT AXIOS
Latinos play a key role in economic growth as their buying power jumped to more than $1.7 trillion, according to a report from the University of Georgia. In 2020, the census pointed out a drastic national spike, with Latinos making up more than half of the population’s growth.
Their buying power is a driving force in economics as they reach closer to nearly $2 trillion, according to US Hispanic Market Report. READ MORE AT NBC10 NEWS
Families led by Black or Hispanic adults are less likely to be invested in the stock market, compared to those led by white adults, according to the latest Pew research. About 61% percent of white U.S. households own some stock, compared to 28% of Hispanic households. READ MORE AT YAHOO FINANCE
Veteran Energy Industry Leader to Continue Utility's Successful Track Record of Delivering Reliable, Affordable and Clean Energy to More Than Four Million Illinois Customers.
CHICAGO (October 14, 2021) — ComEd today announced Gil C. Quiniones will become CEO of ComEd, effective Nov. 15, 2021. Quiniones, who has served as president and CEO of the New York Power Authority (NYPA) for the past 10 years, will report to Calvin Butler, CEO of Exelon Utilities, who also has been serving as interim CEO
Florida is one of the many states in the U.S. whose name is Spanish in origin. “La Florida” which can be translated to mean “the flowering” references the beautiful flowers that grow and blossom here. Florida’s name is not the only mark that Hispanic people have left on the state, especially South Florida.
Although the arrival of Spanish-speaking people came long before the 1930s, most Hispanic contributions can be traced to large immigration groups of Cubans, Venezuelans and Nicaraguans. READ
A new study finds that both the labor market and the broader economy will become increasingly anchored by a young, dynamic population of Latino workers — a finding that has implications for everything from employers’ investment decisions to local economic diversification, to the functioning of critical social safety net programs.
According to the 2021 U.S. Latino GDP Report, Latinos have contributed close to three-quarters of the entire labor force expansion that has taken place since the Great
After losing 66 percent of their household wealth in the Great Recession, Latino homeowners could now be poised to lead the country's economic recovery.
Latinos have increased their homeownership rate for six consecutive years, according to a 2020 report from the National Association of Hispanic Real Estate Professionals. READ MORE AT NBC NEWS
Hispanics accounted for over half of the nation’s population growth in the last decade. This is not just reflected in larger cities, but in mountain towns, Southern neighborhoods and Midwestern prairies.
“The Latino population has been dispersing across the United States for years — a reflection of where the nation’s population is moving and where opportunities are located,” said Mark Hugo Lopez, director of race and ethnicity research at the Pew Research Center. READ MORE AT NBC NEWS
Program assists nearly 100 businesses in building financial capacity, securing federal loan assistance
CHICAGO (September 10, 2021) – CTA’s Red and Purple Modernization (RPM) Project, the largest transit investment in the agency’s history, today announced the milestone of securing $5 million in federal loans in 2020-2021 for local small businesses as part of the CTA Building Small Businesses (BSB) Program.
The BSB Program, launched in 2019, was developed to provide financial guidance to small b
