Latino Communities and the Economy
Representing 31% of the Twelfth District population, Latinos are a vital part of our District’s economy–and the U.S. economy at large. The economic contributions of Latino communities to our country are enormous, wide-ranging, and rapidly growing.
At the San Francisco Fed, we study and share what we’ve learned about the economic impact of Latino communities as part of our commitment to equity. Equity affects economic output, and as such, it’s a core part of our congressionally mandated mission: to promote a healthy and sustainable economy and support the nation’s financial and payment systems.
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How Do Homeowner Experiences Vary by Race and Ethnicity? Neighborhood Differences between Hispanic and White Homebuyers
Rocio Sanchez-Moyano, senior researcher in Community Development, shares findings of significant differences between Hispanic and white homebuyers—even when they had similar financial and demographic profiles and were buying homes of the same value within the same metros.
How Do Business Cycles Affect Worker Groups Differently?
Racial disparities in socioeconomic outcomes for the U.S. population are often masked by aggregate statistics. Unemployment rates vary significantly across groups according to gender and race or ethnicity and have different sensitivities to the business cycle, according to research by Evgeniya Duzhak, SF Fed’s regional policy economist. Focusing on jobless rates by demographic groups shows that Black and Hispanic workers, particularly men, are the most sensitive to periods of economic growth and decline.
The Economic Gains from Equity
Inequities that limit the full potential of people of color bear real economic costs for every American. Eliminating labor market disparities by race and ethnicity—which are particularly large between white individuals and their Hispanic counterparts— would result in an aggregate gain to U.S. GDP of $2.6 trillion in 2019.
How Are Racial and Gender Gaps Limiting the Full Potential of Your State’s Economy?
Imagine if racial and gender gaps did not exist in your state. What would be gained? We invite you to explore this question in a new interactive data simulation by Fed Communities, a project that amplifies the Fed’s work in low- and moderate-income communities and other underserved areas across the U.S.
Mothers in a Pandemic Labor Market
COVID-19 disrupted all aspects of life, leading to steep declines in labor force participation across genders, races, and ethnic groups. Mothers experienced sharper and longer-lasting declines than fathers, and participation rates for Black mothers and Hispanic mothers were among the most affected.
Federal Reserve Bank Research
- Hispanics and Their Contribution to America’s Human Capital, St. Louis Fed, 2018, St. Louis Fed
- Hispanics & the Labor Market, Dallas Fed
- Econ Lowdown (in Spanish and English), St. Louis Fed
- 2022 LDC U.S. Latino GDP Report and State GDP Reports, California Lutheran University’s Center for Economic Research & Forecasting, UCLA Health’s Center for the Study of Latino Health and Culture
- 2021 State of Latino Entrepreneurship, Stanford Business School, Latino Entrepreneurship Initiative
- Economic State of the Latino Community in America, Joint Economic Committee, US Senate