Source: Forbes
According to new research from the Peterson Institute for International Economics, the U.S. benefits from Latino immigration in many ways.
The report entitled “The Economic Benefits of Latino Immigration: How the Migrant Hispanic Population’s Demographic Characteristics Contribute to US Growth” points to the quality and strength of the Latino workforce in the U.S. and researchers point to the significant market opportunities they present for financial institutions.
“Hispanic arrivals have exceeded contemporary native-born Americans and some other migrant groups in their entrepreneurial capabilities and integration into economically relevant parts of the workforce,” the report reads.
Employed Hispanic labor contributes steadily and largely to the U.S. economy and by 2025, researchers predict employed Hispanic Labor will contribute more to the nation’s GDP than non-Hispanic labor.
Other factors taken into account for the growing and contributing market of Hispanic labor is that more Latinos are graduating from High School in the U.S. than ever before, which could lead to better opportunities in the job market. Latinos also are having fewer children, which means more spending money, researchers say.
Read Full Story: Forbes