A recent study finds the financial capability of Latinos improved over the last decade, but obstacles to Latino wealth remain.
Between 2009 and 2021, the number of Latinos reporting that they had set aside some amount of emergency savings nearly doubled, from 29% in 2009 to 48% in 2021. On the whole, Latino adults reported they were “better able to manage everyday money matters” and experienced less “financial fragility” in 2021 compared to 2009. READ MORE AT MARKETWATCH
Over the last decade and a half, Latinos have created companies faster than all other demographic groups in the U.S. These companies are younger and consequently smaller than the average business. However, when compared to white-owned businesses, they grow revenues and create jobs at faster rates for all Americans, not just Latinos. If U.S. Latinos were a country, it would be the fifth largest GDP in the world, growing faster than the U.S. economy. READ MORE AT STANFORD GRADUATE SCHOOL OF BUSINESS
Hollywood companies are facing a series of challenges, including technology disruption, increasing competition, online piracy, economic slowdown, and, importantly, the pressure to demonstrate a continuous growth trajectory. By ignoring the U.S. Latino consumer group, Hollywood may also risk alienating the major source of demographic growth in the country for years to come.
It's time to make Latinos visible again, behind the cameras, in leading roles, and as decision-makers at the C-suites. Hollywood is in the spotlight; industry leaders must recognize the untapped potential of the U.S. Latino consumer group and take decisive action to foster inclusivity, ensuring a thriving and culturally rich future for the entertainment industry. READ MORE AT FORBES
Some educators and advocates say the best way to break the cycle of poverty is by accessing well-paid STEM jobs, as well as the many scholarships that go unawarded each year due to a lack of applicants. In some places, the door seems tightly shut. In Silicon Valley, for example, where the largest number of STEM jobs in the country are concentrated, and where the Latino population is almost 50 percent, less than 3 percent of high-tech, high-wage jobs are filled by Latino professionals. READ MORE AT GOVTECH
The nation’s fast-growing Hispanic population made dramatic strides in educational attainment in recent decades — especially among younger age groups. The number of people of Hispanic or Latino origin (referred to as the Hispanic population in this article) more than quadrupled from 14.6 million 1980 to 62.1 million 2021, and their share of the U.S. population jumped from 6.2% to 18.7%.
As the Hispanic population grew so did its educational attainment, especially high school graduation rates. In 1996, 58.2% of the Hispanic population ages 25 to 29 graduated from high school; by 2021, the share increased to 88.5%, according to the U.S. Census Bureau. READ MORE AT UNITED STATES CENSUS BUREAU
Data shows Afro Latinos have higher educational attainment rates but fewer markers of financial success when compared to other Latinos. Nearly 80% of Afro Latinos are U.S. born, compared to less than of 65% of other Latinos, and they skew younger too.
An analysis of the data in a report by UCLA's Latino Policy and Politics Institute is among the first to delve into the differences and disparities between Afro Latinos and Latinos who are not Black. Researchers say highlighting the differences is key to illuminating the strengths of Afro Latinos as well as to addressing the unique challenges they face. READ MORE AT AXIOS
Over the past decade, Minnesota has seen a 38% increase in residents who identify as Latino or Hispanic. Amid a tight labor market, a new report suggests they could play a big role in bolstering the region's workforce.
This spring, the state Department of Economic and Employment Development issued findings that lay out opportunities and challenges for this population when it comes to economic well-being. For example, Latinos have the highest regional labor force participation rate of any race or origin group - but there are disparities, such as household income. READ MORE AT PUBLIC NEWS SERVICE
While Americans have embraced Mexican food and beverages, American businesses have a long way to go to understand Hispanic and Latino consumers and their $2+ trillion spending power. Latino consumers are very comfortable holding and expressing the two sides of their identity, or even more depending upon their parents and grandparents’ countries of origin. But that creates challenges for brands and retailers that want a one-size-fits-all way to classify and communicate with the Latino consumer segment. READ MORE AT FORBES
This month, Republicans who control the Arizona fractious Legislature came together with Democrats in a moment of unusual bipartisan accord. They passed a bill that would let Arizona’s home cooks register with the state to legally sell perishable foods like salsas and tamales.
But Katie Hobbs, the state’s new Democratic governor, vetoed the measure last week, citing concerns about the potential for food-borne illnesses, as well as rats and insects in home kitchens. Her veto set off a ferocious culinary and cultural backlash from the Capitol to kitchens across Arizona, offering a political lesson for the new governor: Do not mess with the tamale makers. READ MORE AT THE NEW YORK TIMES
The dream of homeownership is one shared by many Americans - yet it's a goal too often out of reach for people of color, said Otis Rolley, president of the Wells Fargo Foundation and head of Philanthropy and Community Impact. The reasons for the homeownership gap are many - including historic redlining, challenges to accessing credit and capital, public policy, and the real estate industry intentionally steering people of color away from certain communities and neighborhoods. READ MORE AT MORNINGSTAR
Zócalo Health, the healthcare company reinventing primary care delivery and care navigation for the Latino patient, announced today its collaboration with Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs) to focus on improving access to all medications available through Cost Plus Drugs. Zócalo Health, launched in 2021, is focused on removing barriers to quality primary care for Latino patients. All users of Zócalo Health will have access to Cost Plus Drugs' prescriptions through membership packages or one-time urgent care visits. READ MORE AT KCRG9
Griselda Aldrete’s career path has been a journey. A native of Milwaukee, she has never shied away from opportunities and challenges in the things she has set out to do. She has plied her considerable talent in the non-profit, government, corporate and now legal realms. She served as President and CEO of Hispanic Professionals of Greater Milwaukee (HPGM) for eight years where she grew the organization’s footprint, budget and brand. She then led the City of Milwaukee’s Fire and Police Commission (FPC) as its first Hispanic executive director in the midst of a global pandemic and national civil unrest following the murder of George Floyd. A corporate engagement followed Aldrete’s government service to the citizens of Milwaukee when she joined Alliant Energy in Madison as director of stakeholder engagement. Her journey continues to add intriguing stops considering her most recent announcement as partner at the law firm of Hansen Reynolds LLC. READ MORE AT BLUEPRINT365
Hispanic or Latino/Latinx communities are vastly underrepresented in the tech industry. According to 2020 US Census data, Hispanics account for 19% of the US population, the nation's second largest racial or ethnic group after non-Hispanic whites. While they hold 17% of all jobs in the US, that number falls to just eight percent of STEM roles. READ MORE AT DIGINOMICA
A good night's sleep is essential for good health, but many Latinos in the U.S. just don't get enough of it. Most adults need seven to nine hours of sleep each night, but about 1 in 3 Latino adults sleep less than seven hours, according to the Centers for Disease Control and Prevention. That's on par with the overall U.S. population.
Insufficient sleep, insomnia and disorders such as sleep apnea have been linked to obesity, high blood pressure and diabetes – conditions that can increase the risk of heart disease. READ MORE AT HEART.ORG
Latino adults have gotten better over the past 12 years at budgeting, managing debt and building personal wealth, according to a new report by the foundation arm of Wall Street's brokerage regulator. But the Hispanic community still faces gaps in financial knowledge, the study found.
Fewer Latinos reported difficulty in paying expenses in 2021 compared to 2009 (50% versus 67%), according to the Financial Industry Regulatory Authority's educational foundation. READ MORE AT FINANCIAL PLANNING
From camps for girls to networking events for grownups, organizations all over the country are working to promote Latinos in tech. In 2021, Hispanics made up a small share of Google (8.8%), Netflix (8.6%), Apple (8%), Microsoft (7%) and Meta/Facebook (6.5%) tech workers.
The numbers of Latinos and Latinas in the industry has been rising gradually in the past few years, but they're still disproportionately low in most companies. READ MORE AT AXIOS
“They’re very resilient. They wish for growth: they’re very ambitious, even in difficult times.” That’s Barbara Gomez-Aguinaga, associate director of the Stanford Latino Entrepreneurship Initiative (SLEI) and lead author of SLEI’s latest State of Latino Entrepreneurship report.
According to SLEI, Latino business owners have for many years been outpacing their peers in terms of revenue and payroll growth. Annual growth rates in revenue and payroll were higher every year for Latino-owned businesses than for White-owned businesses through 2019. READ MORE AT FORBES
A growing emphasis on mental health care — some of it brought into renewed focus during the pandemic — has led more Americans to seek therapy or other support. But recent data show Latinos are less likely to look for help.
While the number of Black, Asian and white Americans seeking mental health treatment has increased in recent years, the rate for Latinos has barely changed, according to an analysis by the Centers for Disease Control and Prevention. The reasons why are complicated, but a lack of cultural context contributes to the trend. READ MORE AT THE LOS ANGELES TIMES
The Illinois Office of Tourism (IOT) recognizes the importance of celebrating the expansive African American communities that are part of our state during Black History Month. To encourage Illinoisians to learn about and experience Black history and culture, IOT has partnered with Chicago Urban Historian Shermann “Dilla” Thomas to highlight significant moments and places in Black history across the state with a new video series, “Discover Illinois with Dilla.” The first video features Alton, in southern Illinois, “the birthplace of cool,” where Dilla visits a statue honoring jazz icon Miles Davis, the Elijah P. Lovejoy Monument and the historic Lincoln-Douglas Square. Additional videos with “Dilla” will focus on Black history in Springfield, the state capital, and Black artist, sculptor and educator Preston Jackson, an Illinois native.
Illinois Tourism’s African American history & heritage trip itinerary was created to encourage people to experience and learn about the rich legacy of Illinois’ African American history. The itinerary features museums and historical sites throughout the state, including where freedom seekers traveled along the Underground Railroad.
To learn more about how to celebrate Black History Month in Illinois, click here.
Chicago – Over 2,000 Hispanic high school students representing 45 high schools in Wisconsin, Illinois, Indiana, Michigan, Tennessee, Oregon, and Nebraska have pre-registered to attend the launch of USHLI’s 2023 Student Leadership Series (SLS). The series will continue throughout the year nationwide.
The goal of the SLS is to motivate public school students to make education their personal priority, take responsibility, improve their academic performance, graduate and prepare themselves to meet the challenges that lie ahead, take advantage of the opportunities that await them and enjoy the benefits that an education will bring in their life and career.
The SLS launch will begin with a press conference at 8:45-9:15am, Thursday, February 16, in the Gold Coast room, lobby level, at the Sheraton Grand Chicago Riverwalk. Present will be USHLI President Dr. Juan Andrade, launch speakers, and sponsors.
Three nationally prominent speakers will address the SLS Rally at 9:50-11am. They are Claudia Romo Edelman, Founder and CEO of the We Are All Human Foundation in New York, Mateo Magdaleno, CEO of IDQ (I Don’t Quit) in Dallas, and Melody Gonzales, executive director of White House Initiatives for Advancing Educational Equity, Excellence, and Economic Opportunity for Hispanics in Washington, DC.
Students will also attend workshops on how to finance their post-secondary education or training and meet with recruiters representing 61 colleges and universities.
The SLS Chair is FedEx. Co-Chairs include the Coca-Cola Company, National Education Association, Rumba Meats, United Parcel Service, and Wells Fargo. Sponsors are Denny’s and the U.S. Department of Defense.
For more information contact David Cordova at davidcordova225@gmail.com or Dr. Juan Andrade at docandrade@ushli.org.
