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The universities and colleges providing students with the most opportunities for long-term economic success are Hispanic-serving Institutions in California, New York and Texas, according to an analysis published Thursday.

Based on the EMI metric, six state schools in California, two public colleges in New York, and two public universities in Texas are doing a better job of promoting economic mobility and a path to the middle class. All of these schools also happen to be Hispanic-serving Institutions, or HSIs, meaning that at least a quarter of their student population is Hispanic. READ MORE AT NBC NEWS

Hispanic-owned businesses have been the fastest-growing segment in the U.S. over the past 10 years, their numbers increasing by 34% since 2010, versus only 1% growth for all other business owners, according to a recent Stanford University study. READ MORE AT MEDIAPOST

The tech industry is growing in Arizona and nationally, with net employment in 2018 bringing on more than 260,000 new jobs nationally. Since the employment shortage that followed the Great Recession a decade ago, net tech employment has increased by an estimated 1.9 million jobs. Yet, as the industry is growing, it’s leaving people of color and women behind. READ MORE AT CRONKITE NEWS

Projections show half of all homebuyers nationally will be Hispanic in the next decade. Latinos are the only demographic in the U.S. to increase their rate of homeownership for each of the past six years, according to the National Association of Hispanic Real Estate Professionals. Oklahoma had the fifth-highest growth at 95.5% from 2009 to 2019, according to NAHREP. READ MORE AT THE JOURNAL RECORD

According to a report by UCLA’s Latino Policy & Politics Initiative, Latinas are leaving the workforce at higher rates than any other demographic.

For some Latinas, the mirage of the American Dream faded amid the Covid-19 pandemic, and many chose to divest from the cultural, societal, and professional standards placed on first- and second-generation communities. READ MORE AT REFINERY 29

Latinos are an economic engine for the US. They are the fastest growing minority: by 2030, 1 in 5 workers will be Latino. And they have the highest rate of entrepreneurship of any race: their businesses have grown by 12.5 percent over the past five years, compared to 5.3 percent for White-owned businesses. READ MORE AT MCKINSEY & COMPANY

Latinos are projected to make up 22.4 percent of the US labor force by 2030 and more than 30 percent by 2060. Yet they remain concentrated in roles generally dismissed as “jobs no one else wants to do.” They are underpaid, less likely to have nonwage employer benefits, and disproportionately vulnerable to disruption. The $288 billion annual gap in income compared with non-Latino White workers not only represents lost economic opportunity but has significant implications for Latinos’ ability to start businesses, build wealth, and fully participate as consumers. READ MORE AT MCKINSEY & COMPANY

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 Georgia were the only states with significant deal flow that showed an increase in the number of deals for Black and Latino companies. READ MORE AT WHBL

FOR IMMEDIATE RELEASE:
December 10, 2021
CONTACT:
DCASE Communications, dcase@cityofchicago.org
Jamey Lundblad, Jamey.Lundblad@cityofchicago.org

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 Special Events (DCASE) today announced a new initiative to strengthen Chicago’s TV and film industry. The new “Chicago Made” workforce development program and public awareness campaign are based on recommendations from the City of Chicago’s COVID-19 Recovery Task Force outlined in the Forward Together advisory report. “This initiative will play an important role in the resurgence of our city’s TV and film industry, which remains one of the largest and most diverse in the country,” said Mayor Lightfoot.

“Chicago’s growing film industry not only ranks our city first in the Midwest for production, it also highlights the diverse culture and immense talent
found throughout our 77 neighborhoods.” The Chicago Film Office at DCASE has partnered with management consulting firm XD-TECH to deliver an innovative workforce development program that aims to transform the region’s TV and film workforce — by offering job training and placement to Chicago residents ages 24 to 50, primarily from underserved areas of our city, to help meet the industry’s increasing demand for skilled workers. Many of the positions are entry-level and do not require a college degree including carpenter, costumer, grip, lighting tech, production assistant and set decorator.

Twenty-five participants will be selected for the first cohort, across 12 career pathways. More than 20 industry partners are providing training or other supports for the program. Chicagoans interested in this opportunity should register for a virtual info session on Friday, December 10 at 6pm CST and can learn more (including eligibility criteria and pre-requisite requirements) at XDTechIndustry.com/ChicagoMade. Applications to participate in this free program are due by December 15.*

*Participants with previous training and/or specific pre-requisite skillsets will be prioritized in order to maximize the effectiveness of the condensed training period.

“Chicago film production is on track to hit an all-time high this year,” said Kwame Amoaku, Director of the Chicago Film Office. “The new ‘Chicago Made’ initiatives will increase our capacity to serve and accelerate the growth of the local industry — building our workforce while supporting residents in every neighborhood.”

The Chicago Film Office led the City’s efforts to bring a record 15 productions to Chicago this summer, at an estimated economic value of well over $700 million this year alone. In 2019, the Illinois film industry employed 20,000 people and 51% of local crew hires were women or minorities. NBCUniversal, Netflix, The Walt Disney Company and WarnerMedia will provide onset training for the workforce development program. The following partners consulted on the curriculum and will provide direct training support: Association of Independent Commercial Producers (AICP) Midwest; Brittanni Perkins, production
accountant; Chicago Filmmakers; Essanay Studio & Lighting Co.; IATSE Local 476; IATSE Local 600; IATSE TWU Local 769; Keslow Camera; Last Looks Chicago; The Mill; ONE at Optimus; Panavision Chicago; and Periscope Post & Audio.

Additionally, BTECH Studios and Creative Cypher are working with XD-TECH on program outreach and implementation. Bloomberg Associates, Columbia College Chicago and Kennedy-King College provided consultation support. Additionally, DCASE is launching an ongoing public awareness campaign using the “Chicago Made” brand to highlight the vital role Chicago’s TV and film industry plays in the city — benefiting Chicago residents in all 50 wards (both residents affected by filming in their neighborhood and Chicagoans interested in film production jobs) as well as industry stakeholders. The campaign will showcase the industry’s enormous economic impact, introduce local film workers as neighbors and friends and
highlight the diversity of “reel” jobs available across our city. The campaign’s creative will emphasize the grit and authenticity of Chicago’s film industry and its unique style of filmmaking — via digital billboards, advertising on CTA trains and busses, advertising at O’Hare, social media, community news and more. Learn more at ChicagoMade.us (launching soon; Music and other creative industries to be added in 2022) and join the conversation on social media using #ChicagoMade.

# # #
Chicago Film Office
The Chicago Film Office is part of the Department of Cultural Affairs and Special Events (DCASE) and leads the City’s efforts to attract and enhance the production of feature films, television series, commercials, documentaries and all forms of local screen entertainment. For filmmakers, it is a one-stop liaison for all City of Chicago production needs, including permits, City services and logistical support. For more information, visit chicagofilmoffice.us.
Chicago Department of Cultural Affairs and Special Events The Department of Cultural Affairs and Special Events (DCASE) is dedicated to enriching Chicago’s artistic vitality and cultural vibrancy. This includes fostering the development of Chicago’s non-profit arts sector, independent working artists and for-profit arts businesses; providing a framework to guide the City’s future cultural and economic growth, via the Chicago Cultural Plan; marketing the City’s cultural assets to a worldwide audience; and presenting high-quality, free and affordable cultural programs for residents and visitors. For more information, visit chicago.gov/dcase.

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 MANAGED HEALTHCARE EXECUTIVE

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 Latinos engaged in an unhealthy coping mechanism. READ MORE AT AXIOS

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 fare best economically. READ MORE AT MONEYTALKSNEWS

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 over the past 18 months. Earlier in the pandemic, the Paycheck Protection Program provided over $521 billion in funding and over 5 million PPP loans to small businesses. However, Latino business owners didn't reap the benefits of the first round of funding. READ MORE AT INSIDER

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