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“There is no better time to be a Latina in the U.S. than today,” said Mónica Gil, CMO and Executive Vice President, NBCUniversal Telemundo Enterprises. “Today no one is more important than the Latina voter, the Latina consumer or the Latina businesswoman. It’s essential for everyone to get to know who Latinas are and what they represent. These fast-moving trends present a real opportunity for companies and organizations to respond to the cultural transformation that Latinas will be leading for years to come.”
The special report uncovered a variety of achievement indicators for Latinas. Key report insights include:
- Latina Population Boom: Of the 29 million Latinas in the U.S., 65% of them are under 40 years old. This reflects a remarkable 55% growth in less than two decades.
- Buying Powerhouse: Latinas have an immense impact on household consumption, thus influencing the rapid growth of Hispanic’s buying power, which reached $1.5 trillion in 2018 and is projected to grow to $1.9 trillion in 2023. They are responsible for growth across many categories such as beauty, automobiles, mobile devices and investments, among others.
- Civically Engaged: Projections indicate the 2020 election will mark the first time that Hispanics will be the largest racial or ethnic minority group eligible to vote at 13.3%, and Latinas will be leading the way. In the past presidential elections, 35% of registered Latinas turned out to vote, compared to 30% of Latinos.
- Dominating Workforce Growth: Latina workforce growth outpaced both non-Latinas and Latino males for the first time in history when the Latina workforce grew 93% compared to 71% for Latino males and 13% for non-Latinas from 2000 to 2017.
- Academic Breakthroughs: Millennial Latinas with an associate, bachelor’s, or graduate degree almost doubled from 17% in 2000 to 30% in 2017.
- Driving Media Consumption: U.S Latinas spend a vast amount of time consuming media. Every week Latinas pend over 30 hours watching TV and 22 hours viewing videos, using apps, or surfing the internet on their smartphones.
- Deferred Marriage & Childbearing: Marriage and children will wait as Latinas are now prioritizing education and work. Never married millennial Latinas grew from 27% to 47% from 2000 to 2017. The average age when Latinas have their first child increased from 22.7 to 24.8 years of age during the same period.
- 200%ers: Over half (53%) of Latinas live in bilingual homes where they fully embrace both sides of themselves, 100% Latina and 100% American. The advantages of this Cultural Bothness are explored in detail in the report.
“This joint initiative marks the first time that the Know Your Value program, which is celebrating its fifth anniversary, presents a specialized report of this kind. We’ve spent the last five years traveling around the nation, helping women find their voice, speak up and recognize their value. It is clear that the Latina community needs just that, and judging by the impact and influence of this group, which is evident in the report, it’s essential the rest of the world starts listening,” commented Know Your Value founder and co-host of Morning Joe, Mika Brzezinski.
The report also shows some challenges that Latinas contend with, including:
- Lagging in Healthcare: Latinas and their families are less likely to get the healthcare they need due to lack of information, cultural barriers and limited access to affordable healthcare. Among non-elderly adults in 2017, 25% of Hispanics had no health insurance over the past year, compared to 8% of non-Hispanic Whites. This contributes to Latinas suffering from certain conditions to have higher incidence and mortality rates.
- Gender Wage Gap: For every $1 made by a non-Hispanic White man, Latinas make 54 cents. This is the largest pay gap among all female ethnicities. Women with advanced degrees fare the worst with 3 times the pay gap vs. non-Hispanic White men when compared to Latinas with a high school degree.
- Lack of Representation in Film and Media: While trends show significant Latina growth, traditional film and media have not followed the trend. The percentage of top-grossing films with major Latina characters reached 7% in 2017 only to fall again to 4% in 2018. Latinas filled less than a dismal 1% of industry roles as directors and producers in the top 1,200 most popular films over the past 12 years. Film and content lead the cultural conversation, and Latinas are being left out.
Overall, the nation’s nearly 30 million Latinas have made significant strides over the past two decades, and like women across America, Latinas are driven to do more, speak louder and take on positions of influence that were less attainable in the past.