Hispanic Stereotypes

Often being ignored or rejected, the Hispanic community suffers a bad perception from the Americans and is many times associated with the stereotypes that they have especially regarding unemployment, education and crime rates. While in reality, Hispanics are completely different from these beliefs and wage an everyday fight in order to live their American dream, it is important to make clear what this minority is actually facing from an economic point of view.

Fifty-six million. This is the number representing the Hispanic population of the United States in July 1, 2015. This makes people of Hispanic origin the nation’s largest ethnic or racial minority by being more than seventeen percent of the nation’s total population. To understand better

Many started to work in the construction industry and occupy professions in service, maintenance, food preparation and serving or ground cleaning. In general, the occupations in which Hispanics are concentrated are low in wages and with low educational requirements while the representation of whites in professional occupations is growing. Hispanic workers lack representation in professional occupations. This leads to an increasing gap between both groups in the occupational status. On another hand, both white and Asian workers are more than twice as likely as Latino workers to be found in professional occupations. When going into detail, we can find out that Mexicans and Puerto Ricans lag the furthest in comparison to the status of whites. And of the three largest components of the Hispanic community that are Mexicans, Cubans and Puerto Ricans, Cubans and whites are comparable in occupational status. Mexicans and Puerto Ricans are more likely than average to be found in construction and production occupations. Overall, the occupational distribution of Latinos resembles the profile of Black workers most closely with similar proportions to be found in professional, service, sales, and production occupations. Today Hispanics and Whites perform different types of work in the labor market, but always keeping a gap between them. However, simultaneously, the number of Hispanic-owned businesses is

In 2015, their purchasing power increased at an annual growth rate of 7,5% which was more than twice as fast as the growth for the overall American purchasing power. And these numbers are expected to grow as it is estimated that the purchasing power of Hispanics would represent nearly two trillion dollars by 2019. Hispanics are not only influencing the American economy with their purchasing power, today there are more than 4 million Hispanic owned businesses throughout the United States. According the Unites States Hispanic Chamber of Commerce, Hispanics entrepreneurs have been starting businesses at a pace 15 times the national average over the last decade and this despite the recession. Their businesses contributed over 600 billion dollars in revenue to the national economy in 2015. Hispanics continue to experience a higher rate of self-employment than the general American population. This means that soon Hispanics will have more economic power, employ a larger proportion of the population and purchase and consume considerably more goods and services than they are doing today. This dynamic growth of Hispanic-owned business is really likely to transform the economic landscape in the United States in the years to come as they collectively contribute to