In honor of Women’s Week, the second article in a two-part series celebrating the Latinx women who move America forward will address economic and political issues. We will pay special attention to data regarding the workforce, entrepreneurship and purchasing power of Latinx women.
Allied to youth and possessing the will to succeed in a new country, Latina women are occupying more and more space in the labor market, a characteristic that can help combat the wider exit of women and baby boomers from the workforce.
However, American society as a whole still sees prejudices based on race, ethnicity, sex and migration status, which drives Latina women into occupations with lower wages and inferior working conditions.
Opting for entrepreneurship as a means of providing for the family allows for greater flexibility in schedules and autonomy, including hiring other Latinx people, which helps get the LatinX economy going.
Many Latina women see owning their own business as the only option for work, without having to depend on someone else’s decision on whether or not they are the right “fit.”
Despite advances and achievements, there are still a significant number of Latinas and, consequently, Latinx families without financial stability and with high vulnerability to external events.
As if the salary difference and the difficulty of entering the job market in positions that pay better weren’t enough, any instability in the market has a direct impact on Latina women.
The pandemic, for example, quickly and directly impacted the jobs of these women. One in five was unemployed in April 2020. With the return of economic activities, the unemployment rate among them has already decreased, but the market movement has made the vulnerability of Latina women very clear in this regard.
COVID-19 has had a particularly devastating impact: 21% of Latinas lost their jobs in the early days of the pandemic, nearly a quarter of Latinas do not have access to health insurance, and only 16% have the opportunity to work from home, which makes their work even more unstable in these times.
Latina women influence the growth in purchasing power of Latinx people in general, which reached $1.5 trillion in 2018 and is projected to increase to $1.9 trillion by 2023. For those who want to produce and sell in American society , these data are extremely important.
Source: Gfk Consumer Life (Roper Report US)
It is estimated that there are 62.1 million Latinx people in the US, which is equivalent to 18.7% of the country’s total population and responsible for 51.1% of the population growth between 2010 and 2020.
With population growth, it is more than natural to turn our eyes to all US political issues, but especially representation in the country’s decision-making summits. And it is also necessary to understand the power of Latina women as voters.
Latina women are such a coveted demographic, there is no one more powerful than a Latina consumer, a Latina voter, a Latina businesswoman, or even a Latina politician, to support the causes they believe in.
A good example of this is the congresswoman from NY Alexandria Ocasio-Cortez. Of Puerto Rican descent, she was elected at age 28. She advocates, among other causes, the implementation of a universal health system, more labor rights, abolition of the government’s Immigration and Customs Enforcement Agency and more access to public education.
The future of the USA is directly linked to the education, health and economic well-being of Latinas.
If you want to know more about the LatinX community, we have a series of articles that might interest you:
LATINX COMMUNITY: It is just the beginning!
LATINX POWER: Latinx and the US Real Estate market
LATINX IN BUSINESS: Latinx and Entrepreneurship in the US
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