What You Need To Know | Hispanic Americans Are Enjoying Unprecedented Economic Success Under President Trump
Hispanic Americans are thriving in today’s booming economy, as they continue to see more and more new jobs, higher incomes, and opportunities to grow.
Today’s booming economy is leading to more and more job opportunities for Hispanic Americans – driving Hispanic unemployment to record lows.
- The Hispanic-American unemployment rate has fallen to a record low of 4.2%.
- The Hispanic unemployment rate has remained under 5% for the past 17 months.
- The Hispanic unemployment rate has fallen below 5% 22 times since President Trump took office, something that had only happened once prior to 2017.
- Since President Trump’s election, the number of Hispanic Americans employed has risen by 2.4 million.
- Hispanic-American women are winning in the Trump economy.
- The unemployment rate for Hispanic-American women fell to a record low of 3.6% earlier this year.
- More than 1 million Hispanic-American women have entered the workforce since President Trump’s election.
- As the New York Times reported this July, “Hispanic women have emerged as the biggest job market winners.”
Hispanic Americans are prospering as income soars and poverty plummets.
- Median income for Hispanic households has reached a historic high under President Trump, surpassing $50,000 for the first time on record.
- The percentage of Hispanic households with an income over $200,000 reached a record high in 2018.
- The poverty rate for Hispanic Americans reached the lowest level on record in 2018.
- Nearly 300,000 Hispanic Americans were lifted out of poverty in 2018.
- The gap between the poverty rate for Hispanic Americans and the overall poverty rate in the United States is the smallest it has ever been.
Thanks to President Trump’s pro-growth policies, Hispanic-owned businesses are expanding and flourishing.
- Hispanic-owned businesses are an incredible driving force behind our economy and President Trump’s pro-growth policies will help make sure that continues.
- Three-quarters of Hispanic-owned small businesses expect their revenue to increase in the next year, according to a March 2019 survey by Bank of America.
- Eighty-seven percent of Hispanic-owned small businesses plan to expand their operations.
- More than half of all Hispanic-owned small businesses plan to hire more workers – double the percentage of non-Hispanic-owned businesses.