Despite all the hate that President Donald Trump spews, his remarks about nuestra gente continue to be proved wrong and to be outright lies.
As the Latinx population continues to soar in the U.S. so, too, does our economic impact.
And it’s not expected to slow down in the next 10 to 20 years.
Studies show that Latinx immigrants’ entrepreneurial contributions have surpassed native-born Americans and other migrant groups.
Latinxs are a target demographic for banks, insurance companies, asset managers and fintech. Our economic power will only grow stronger, since it’s expected we will account for 20% of the U.S. workforce by 2050.
More importantly, by 2025 the larger Latinx workforce will contribute more to the U.S. GDP growth than non-Latinx labor.
However, Latinxs still struggle to obtain credit which means financial institutions need to improve how they understand our gente’s credit worthiness.
In the meantime, Trump’s nose should be growing each time he claims we’re an economic burden!