Oxnard College and the Oxnard College Foundation are partnering with researchers at California Lutheran University (CLU) and the University of California Los Angeles (UCLA) to host an event on April 17, 2024, marking the publication of the annual U.S. Latino GDP Report. The report documents the economic contributions of the Latino community throughout the United States and identifies Latinos as major drivers of the pandemic recovery. The event will also feature never before released estimates of California’s Latino GDP.
“We see unmistakable evidence that Latinos are drivers of economic growth and an important source of resilience for the broader economy,” said Matthew Fienup of CLU’s Center for Economic Research & Forecasting, the report’s co-author and chief economist.
“Latinos have been economically active in what is now the United States since 1513. That’s over 500 years of economic activity,” explains David Hayes-Bautista of UCLA’s Center for the Study of Latino Health and Culture, the report’s co-author and chief demographer. “The contributions that we document in this report are simply the continuation of a centuries-old tradition of Latinos bettering themselves and their communities and, in doing so, creating economic growth that benefits all.”
The GDP of Latinos in the U.S. was $3.2 trillion in 2021 (the most recent year data are available), up from $2.8 trillion in 2020, $2.1 trillion in 2015 and $1.7 trillion in 2010. If Latinos living in the United States were an independent nation, the U.S. Latino GDP would represent the fifth largest GDP in the world.
The report’s authors make clear that their emphasis on Latino economic drivers “is not intended to make light of the hardship that Latinos endured during the pandemic. Latinos were among the hardest-hit groups. … Instead, we believe that the economic data published in the 2023 U.S. Latino GDP Report honor the sacrifices made by Latinos and illustrate just how vital Latino strength and resilience are for the nation’s economy.”
Hayes-Bautista and Fienup will present the latest U.S. and California Latino GDP data. A distinguished panel of local leaders will discuss the research and speak to the impact that they see right here in Ventura County.
“As a proud Hispanic Serving Institution, Oxnard College is dedicated to serving Ventura County’s Latino families,” shared Dr. Oscar Cobian, interim president of Oxnard College. “This report highlights the gains Latinos are making in educational attainment, helping to grow and drive the U.S. economy. Oxnard College is proud to be part of that pipeline to a brighter future for our community, and we are honored to host the report’s authors to discuss its impact here in Ventura County.”
The event is free and open to the public. To learn more and to RSVP, visit oxnardcollegefoundation.org/events/latino-gdp-presentation. You can also learn more about the U.S. Latino GDP Report and its research at www.LatinoGDP.us.