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U.S. Hispanic Purchasing Power Growth Rate Three Times The National Rate In The Last Decade
9/15/04 - By Deborah Broide for HispanicBusiness.com

 

 

US Hispanic Purchasing power

The U.S. Hispanic purchasing power growth rate was three times the overall national rate in the last decade. From 1994 to 2004, U.S. Hispanic purchasing power posted a compound annual growth rate of 7.7%-nearly three times the 2.8% total U.S. rate of disposable income.

 

The Hispanic population is out-performing the general population by nearly every economic growth measurement.


This is predicted to continue according to "U.S. Hispanic Purchasing Power: 1978-2010", the HispanTelligence(R) research report released today. Hispanic purchasing power has surged to nearly $700 billion and is projected to reach as much as $1 trillion by 2010, according to estimates by HispanTelligence(R), based on analysis of U.S. Bureau of Economic Analysis figures.

"Rising education levels, rapid employment growth, and a changing labor profile fuel the growth," explained Dr. Juan Solana, HispanTelligence(R) Chief Economist.

Higher paying managerial and professional jobs are the fastest-growing occupational categories for Hispanics, up from 11% in 1990 to 17% in 2003.

Additionally, "Hispanic employment has shown strong growth, increasing 14% from 2000 to 2004, compared with an overall U.S. growth rate of 2%," stated the authors of the study Tabin Cosio and Juan Solana.

HispanTelligence(R) estimates current Hispanic purchasing power is 8.5% of total U.S. purchasing power, but will reach 11% by 2010, when taking into account factors such as the narrowing Hispanic vs. overall U.S. income gap and the increase in the number of Hispanic households with
earned income.

The HispanTelligence(R) "U.S. Hispanic Purchasing Power: 1978-2010" also provides:

-- State-by-state projections of Hispanic average household income and purchasing power versus the national averages for California, Texas, New York, Florida, Colorado, and Illinois. Other states upon request.
-- 25-year purchasing power trend analysis.
-- Job distributions across function, industry and title. (We do not provide this info in the Purchasing Power paper)

To purchase a copy of this or other HispanTelligence(R) reports, visit
http://www.hispanicbusiness.com/research/ 

Hispanic Business(R) and HispanTelligence(R) are registered trademarks of Hispanic Business Inc. 2004 Hispanic Business Inc. All rights reserved.

On the Web: http://www.HispanicBusiness.com   
 

 




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