Purchasing Power and Workforce Influence

The combined buying power of ethnic Americans is growing faster than other Americans.

The demographic and economic presence of Hispanic, African Americans and Asians in the US is exploding. For coming years and decades, Hispanics will dominate adult consumer growth. A close look at the 2010 Census portends a dramatic trend - the number of Hispanic children during the decade grew by 4.8 million while the rest of the youth population shrank substantially. The Hispanic population was responsible for replacing the negative trend in other ethnicities.

Even more dramatic is a report by the Pew Research Center that analyzed Bureau of Labor Statistics data and concluded that 74% of total US labor force growth between now and 2020 will be Hispanic due to the relatively young age of the Hispanic population and their higher rate of labor force participation.