Hispanics to Dominate Job Growth by 2020
February 25, 2015
The United States' Hispanic population could play a significant role in driving employment growth over the next 20 years. Within the next five years, Hispanics could account for 40 percent of the job growth and more than 75 percent from 2020 to 2034.
Notwithstanding current and projected immigration patterns, the Hispanic share of the United States' labor force is set to increase an average of 2.6 percent by 2034 while the overall labor force increases just 0.6 percent. Within the next 20 years, the Hispanic Population could hold 11 million of the 14 million new jobs.
What factors account for these numbers? Consider:
- In 2013, nearly 45 percent of the Hispanic population was under the age of 35 while the non-Hispanic labor force was only about 33 percent.
- During the same year, less than 12 percent of the Hispanic work force was older than 55, as opposed to more than 23 percent of the non-Hispanic work force.
- By 2020, immigration will exceed employment growth.
The Obama Administration insists emerging immigration will contribute more to employment growth and economic productivity than any other policy. Yet, the newly Republican-controlled Congress could have the final word should it choose not to fund the executive amnesty order Obama announced last fall.
Source: Nick Timiraos, "Hispanics Could Account for 40% of the U.S. Job Growth by 2020," Wall Street Journal, February 24, 2015.
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