LatinaLista — Dr. Steve Murdock, founding director of the Hobby Center for the Study of Texas at Rice University and former director of the U.S. Census Bureau, has long been sounding the alarm to legislators and policy makers of a future where Latinos will become not only Texas’ majority but the nation’s.
In that respect, Murdock and other economic analysts make clear that unless more Latinos get an education, receive equal opportunities and secure jobs that pay well, the economic outcome for the U.S. is pretty shaky.
Adding fuel to this prediction is a new report by IHS Economics, Hispanic Immigration and US economic Growth.
According to the report, “Over the next five years the Hispanic population will account for over 40% of the increase in US employment.” One of the major reasons is because as the baby boom generation retires in greater numbers, Hispanics will be looked to fill those positions.
A total of 17.4% of the non-Hispanic labor force is in the age group approaching retirement over the next 10 years (55-64), while only 9.8% of the Hispanic population is in this age category.
The report’s writers reveal that the route to strengthening the economic growth of the US after these retirements is through higher levels of immigration. And while Congress would like to derail any further Hispanic immigration to the United States, the reality foretells a different outcome.
Researchers say the United States remains a top destination for 80 percent of the people coming from most of Latin America and if U.S. immigration policies would address this reality the U.S. Hispanic labor force could grow even faster and contribute to keeping the economy strong.