Hispanic Heritage Month offers us an opportunity to pause and reflect on the remarkable contributions and rich cultural tapestry of the Hispanic community, not just in the United States, but right here in our very own Chicagoland.
The Growing Hispanic Influence
According to the U.S. Census Bureau, there were over 62 million Hispanic Americans in the United States in 2020, making up a formidable 18.7% of the U.S. population. This makes them the largest ethnic group in the country. Closer home in Illinois, the Hispanic population saw a jump from 2,027,578 in 2010 to 2,337,410 in 2020, indicating an influx of 309,832 new Hispanic residents in just a decade.
But what truly stands out is not just their numbers but their significant economic impact. Hispanic households had earnings surpassing $1.2 trillion in 2019, contributing an impressive $308.5 billion in taxes. Their financial muscle is clear, with over $910 billion in spending power post-taxes.
Hispanic immigrants have consistently showcased an entrepreneurial spirit. They are 30.6% more likely to start their own businesses compared to the broader U.S. population. With over 2.5 million Hispanic entrepreneurs in 2019, the future of American business appears bright and diverse.
Primary Staffing and Our Hispanic Heritage
At Primary Staffing Inc., our history is deeply intertwined with the journey of the Hispanic community in Chicagoland. Established in 2000, we have continuously committed ourselves to serving the Latino community. Beyond business, it’s our cultural and communal ties that define our relationship with the Hispanic community.
Hispanic Labor Force: A Pillar of the Illinois Economy
The Department of Labor shines a spotlight on the critical role of Hispanics in the Illinois and Chicago labor market. Hispanics make up 17.6% of the labor force in Illinois and a striking 22.7% in Chicago. Their representation in the manufacturing sector is evident, with US-born Hispanics accounting for 7.8% and immigrant Hispanics at 9%.
With numbers growing from 10.7 million in 1990 to 29.0 million in 2020, projections indicate a rise to 35.9 million by 2030. By then, Hispanics are set to constitute a whopping 21.2% of the U.S. labor force. The driving force behind this? A young demographic profile with a median age of 38.5, compared to the overall median of 42.0. Their zest for work, dedication, and unique perspectives are vital cogs in the machinery of our industries.
The Road Ahead: Commitment and Collaboration
While the figures and data points paint a promising picture, what truly defines the Hispanic community is their resilience, determination, and cultural richness. As we celebrate Hispanic Heritage Month, it’s time to look ahead and foster an environment of inclusion, understanding, and growth.
Let this month serve as a reminder of our shared histories, aspirations, and dreams. Here’s to harnessing the power of collaboration and celebrating the indomitable Hispanic spirit.
Primary Staffing Inc. salutes the achievements of the Hispanic community and remains committed to supporting and being a steadfast partner in their growth journey in Chicagoland and beyond.