U.S. Hispanic Purchasing Power Growth Rate Three Times The National Rate In The Last Decade

USA (Hispanic PR Wire) May 5, 2004 - The U.S. Hispanic purchasing power growth rate was three times the overall national rate in the last decade. From 1994 to 2004, U.S. Hispanic purchasing power posted a compound annual growth rate of 7.7%—nearly three times the 2.8% total U.S. rate of disposable income. The Hispanic population is out-performing the general population by nearly every economic growth measurement. This is predicted to continue according to “U.S. Hispanic Purchasing Power: 1978-2010”, the HispanTelligence(R) research report released today.

Hispanic purchasing power has surged to nearly $700 billion and is projected to reach as much as $1 trillion by 2010, according to estimates by HispanTelligence(R), based on analysis of U.S. Bureau of Economic Analysis figures.

“Rising education levels, rapid employment growth, and a changing labor profile fuel the growth,” explained Dr. Juan Solana, HispanTelligence(R) Chief Economist.

Higher paying managerial and professional jobs are the fastest-growing occupational categories for Hispanics, up from 11% in 1990 to 17% in 2004.

Additionally, “Hispanic employment has shown strong growth, increasing 14% from 2000 to 2004, compared with an overall U.S. growth rate of 2%,” stated the authors of the study Tabin Cosio and Juan Solana.

HispanTelligence(R) estimates current Hispanic purchasing power is 8.5% of total U.S. purchasing power, but will reach 11% by 2010, when taking into account factors such as the narrowing Hispanic vs. overall U.S. income gap and the increase in the number of Hispanic households with earned income.