A.

n The median age for Latinos is 29.5 years old, compared to 40.6 for non-Latinos.

n The educational level of Latinos is growing 2.8 times faster than that of non-Latinos.

Labor force n In 2010, Latinos were 4.5 percentage points more likely to work than non-Latinos. This average increased every year from 2010 to 2020. n Despite accounting for only 18.7% of the population, Latinos were responsible for 73% of the growth in the nation’s labor force in that period. n It is projected that by 2060, the Latino population will include an additional 30 million working age adults.

At the local level

How is this impact translated at the local level? The researchers took the Charlotte Metropolitan Area as an example. Again, let’s take a look at some data.

Latinos generated $12.9 billion in economic activity in Charlotte in 2018. The largest component was personal consumption, which totaled $8.9 billion.

The top five sectors of Latino GDP in the Charlotte Metropolitan Area are: finance and real estate, construction, government services, professional services, and wholesale trade.

Between 2010 and 2018, the labor force participation rate of Latinos in Charlotte was 8.5 percentage points higher than the rate of non-Latinos.

Latinos provide a large and positive demographic impact in Charlotte through the addition of workers and the formation of households. From 2010 to 2018, the number of Latino households increased by 36.5%, compared to 18.4% for non-Latino households.

“Latinos are drivers of economic growth and an important source of economic strength and resiliency for the nation,” the researchers concluded in their report.