A groundbreaking report reveals that U.S. Hispanic women contributed a staggering $1.3 trillion to the nation's GDP in 2021, highlighting the rapid economic growth and impact of Latinas. The U.S. Latina GDP Report, funded by Bank of America, is the first study of its kind to focus on the economic contributions of Latinas, showing their GDP grew more than 50% over the past decade.

The research, led by professors Matthew Fienup of California Lutheran University and David Hayes-Bautista of UCLA, found that Latina GDP grew 2.7 times faster than that of non-Hispanics from 2010 to 2021. The Latina GDP now surpasses the entire economy of Florida, underscoring their growing role in the U.S. economy.

“This exciting body of work captures the positive growth and contributions that U.S. Latinas from multiple generations have been making to the U.S. economy,” said Jennifer Auerbach-Rodriguez of Merrill Wealth Management. “Latinas are a driving force.”

Key findings from the report highlight the extraordinary economic output, labor force participation, educational attainment, and income growth among U.S. Latinas:

Economic Output: Latina GDP increased from $661 billion in 2010 to $1.3 trillion in 2021, growing 2.7 times faster than non-Hispanic GDP.

Labor Force Participation: Latina participation in the labor force rose 32.9% from 2010 to 2021, compared to just 2.7% growth for non-Hispanic females. Despite being only 9.3% of the population, Latinas accounted for 30.2% of U.S. labor force growth.

Educational Attainment: The number of Latinas with higher education increased 103% between 2010 and 2021, far outpacing the 38.3% growth seen among non-Hispanic females.

Real Income: Latinas’ real incomes grew 46% from 2010 to 2021, more than doubling the growth rate of their non-Hispanic female counterparts.

“These daughters and granddaughters of immigrants are combining the extraordinary work ethic of their elders with rapid growth in human capital to drive the U.S. economy,” said Dr. Hayes-Bautista.

The report builds on previous studies showing that Latinos are a critical source of economic growth in the U.S., demonstrating that Latinas, in particular, are key drivers of economic vitality across the nation.