Powering Greater Boston’s Economy: Why the Latino Community is Critical to Our Shared Future
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Presentation by Alvaro Lima to the Boston Foundation's Indicators Project & The Latino legacy Fund convening.
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Powering Greater Boston’s Economy: Why the Latino Community is Critical to Our Shared Future
- 1. Powering Greater Boston’s Economy: Why the Latino Community is Critical to Our Shared Future Wednesday, June 7, 2017 9:00 a.m. – 12:00 p.m. #LatinoLegacy #AmplifyLatinx
- 2. A Prosperous Boston For All Why the Latino community matters to Boston’s present and future June 2017
- 3. #1 Boston’s prosperity is tied to the rapidly growing Latino community #2 The Latino community is an important source of human capital
- 4. assets + opportunity = action
- 5. The face of Boston is changing
- 6. 80% 68% 59% 49% 47% 45% 16% 22% 24% 24% 22% 23% 3% 6% 11% 14% 17% 20% 5% 8% 9% 9% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1970 1980 1990 2000 2010 2015 Boston is becoming more diverse Other Asian / Pacific Islander Hispanic/ Latino Black / African American White
- 7. Without Latinos Boston’s population would still be near 1980 levels
- 8. 562,994 574,283 589,141 617,594 669,595 526,735 510,840 500,582 506,667 535,163 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1980 1990 2000 2010 2015 Latinos account for 92% of Boston’s growth since 1980 Boston's Total Population Boston's Population without Latinos
- 9. Latinos are key to Boston’s future population growth
- 10. 121,683 109,833 116,559 103,710 111,328 107,286 89,712 88,041 71,996 76,281 20,000 40,000 60,000 80,000 100,000 120,000 140,000 1980 1990 2000 2010 2015 Boston’s Latino child population doubled since 1980 Total Population ages 0-17 Population ages 0-17 without Latinos
- 11. Latinos are a growing share of Boston’s workforce
- 12. 447,360 508,395 503,134 519,007 591,685 457,783 536,096 544,270 579,139 688,908 - 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 1980 1990 2000 2010 2015 Latinos are 14% of Suffolk County’s Workforce Suffolk County # of workers without Latinos Suffolk County total # of workers
- 13. Latinos contribute to Boston’s economy as entrepreneurs
- 14. 7.8% 0.9% 1.0% 10.4% 1.5% 2.3% 0% 2% 4% 6% 8% 10% 12% Latino Share of Boston Firms Latino Share of Annual Sales Latino Share of Paid Employees Latino-owned Firms in Boston are Growing 2007 2012
- 15. Latinos’ contribution to the economy as entrepreneurs and workers is significant
- 16. $36.9 $53.8 $83.0 $87.7 $96.4 $37.8 $56.3 $87.5 $94.5 $105.4 $0 $20 $40 $60 $80 $100 1980 1990 2000 2010 2014 Billionsof2015dollars Latinos account for $9 billion in economic output in Suffolk County Economic Output without Latinos Total Economic Output of Suffolk County
- 17. assets + opportunity = action
- 18. Given its size, rapid growth, and young age, the Latino community is an important source of human capital
- 19. To be competitive Boston needs a highly skilled workforce
- 20. 7.4% 21.3% 14.6% 11.2% 45.6% 12.5% 28.6% 13.1% 9.0% 36.9% 0% 10% 20% 30% 40% 50% LessThanHigh School HighSchool Degreeor Equivalent SomeCollege Courseworkor Post-Secondary Certificate Associate's Degree Bachelor's Degreeor Higher 46% of projected job growth in Boston to 2022 requires a Bachelor’s Degree Growth Openings Replacement Openings
- 21. Improving Latinos’ educational attainment and English proficiency will allow greater contribution to Boston’s economy
- 22. 33% 12% 28% 20% 20% 18% 19% 50% Latinos Non- Latinos Educational attainment of Latino adults lags non-Latinos Less than high school High school or equivalence Some college Bachelor's or higher
- 23. 59% 89% 16% 5% 17% 8%Latinos Non- Latinos A quarter of Latinos in Boston do not speak English well Only English or Very Well Well Not well Not at all 25% 6%
- 24. 16.6% Latino Boston resident share of all occupations 6.7% 10.4% 11.3% 12.3% 13.7% 14.9% 15.6% 23.4% 26.2% 34.7% Managerial & Professional Education, Training, & Library Community & Social Service Healthcare Practitioners & Support Arts, Design, Entertainment, Sports & Media Sales & Related Office & Administrative Support Construction, Extraction, Maintenance &… Production & Farming Service Latinos are concentrated in service occupations
- 25. Boston would benefit from robust growth in Latino entrepreneurship
- 26. 3% 9% 2% 1% 2% 5% 5% 6% 6% 9% 11% 11% 12% 14% 15% 23% 28% Real estate and rental and leasing Finance and insurance Manufacturing Professional, scientific, and technical… Wholesale trade Information Arts, entertainment, and recreation Transportation and warehousing Educational services Construction Accommodation and food services Retail trade Other services Health care and social assistance Administrative support and waste… Latino firms have lower sales than non-Latino firms Latino Share of Firms Latino Share of Annual Sales 10.4% Latino Share of All Privately-owned Firms
- 27. assets + opportunity = action
Hinweis der Redaktion
- Boston is growing increasingly diverse overall. Growth in our Latino population over the last several decades, along with growth in most other racial and ethnic groups, has helped enrich the city with greater diversity. In fact, growth in the Hispanic, Black, and Asian/Pacific Islander populations helped lead to Boston becoming a majority non-White city for the first time in the 2000 Census Note: Due to data limitations, “Hispanic/Latino” in this graph does not include Brazilians who are included with Latinos in other analyses in this report. Source: 1970 -2010 U.S. Decennial Census, 2015 American Community Survey, BPDA Research Division Analysis
- Latinos account for 92% of Boston’s population growth from 1980-2015 Latinos represent 12.4% of the state population and 20% of Boston’s residents Source: U.S. Census Bureau, 1980-2000 Decennial Census, IPUMS, 2010 & 2015 1-year American Community Survey, PUMS, BPDA Research Division Analysis
- 1980-2010 Latino population under 17 doubled, while non-Latino population lost ⅓ of its children 24% of births are to Latina mothers Source: U.S. Census Bureau, 1980-2000 Decennial Census, IPUMS, 2010 & 2015 1-year American Community Survey, PUMS, BPDA Research Division Analysis
- Latinos represent 14% of the workforce in Boston (Suffolk county) in 2015 Up from 2% of workforce in 1980 Source: U.S. Census Bureau, 1980-2000 Decennial Census, IPUMS, 2010 & 2015 1-year American Community Survey, PUMS, BPDA Research Division Analysis
- 10.4% of privately-held firms were owned by Latinos in 2012 a 60% increase in number of Latino-owned firms over 2007 Source: U.S. Census Bureau, 2007 & 2012 Surveys of Business Owners, BPDA Research Division Analysis
- Direct and indirect impacts in 2014 accounted for $15 billion in Gross Domestic Product, about 7% of Suffolk County’s economic activity Source: U.S. Census Bureau, 1980-2000 Decennial Censuses, 2010 & 2010-2014 American Community Survey, IPUMS; 1992, 2002, 2007, & 2012 Surveys of Business Owners; Regional Economic Model, Inc., REMI calculations, BPDA Research Division Analysis
- Jobs in Boston increasingly require higher education: 46% of projected growth openings in Boston from 2012 to 2022 require a Bachelor’s degree or higher. In Boston, even jobs that do not require a college degree may be filled by someone with a Bachelor’s degree: 57.5% of people working in Suffolk County in 2015 have a Bachelor’s degree or higher, up from 50% in 2000. Source: U.S. Census Bureau, 2000 Decennial Census & 2015 American Community Survey, IPUMS; Occupation and Employment Statistics; O*NET Database; BPDA Research Division Analysis
- 33% of Latinos age 25+ lack a high school diploma, compared to 12% of non-Latinos Only 19% of Latinos age 25+ have a Bachelor’s degree or higher, compared to 50% of non-Latinos Source: U.S. Census Bureau, 2011-2015 American Community Survey, BPDA Research Division Analysis
- 25% of Latinos in Boston speak English not well or not at all, compared to only 6% of non-Latinos. Source: U.S. Census Bureau, 2011-2015 American Community Survey, BPDA Research Division Analysis
- Latino Boston residents are over-represented in occupations with the lowest average wages. For example, Latinos make up only 17% of employment overall, but 35% of employment in Service occupations. Latino Boston residents are under-represented in occupations with the highest median wages. For example, Latinos make up only 7% of employment in Management & Professional Occupations.
- Latino-owned firms in Boston are concentrated in the administrative support and health care and social assistance industries. Latino firms make up 28% of the firms in administrative support and waste management and 23% of firms in health care and social assistance, but only 10% of all firms. Within an industry, Latino firms account for disproportionately lower share of total sales for that industry For example, Latino-owned firms account for 14% of retail firms but only 3% of total retail sales. Source: U.S. Census Bureau, 2012 Survey of Business Owners, BPDA Research Division Analysis
- One of Boston’s largest assets is its young and growing supply of Latino talent. Growth in the Latino population has helped Boston recover from the population decline of the twentieth century. Latinos contribute to Boston as residents, workers, and entrepreneurs. There are significant opportunities to develop and grow Latino talent in Boston. The needs of Boston’s economy increasingly require high levels of English proficiency and education. There is strong demand from employers, especially in growing STEM fields, for more highly-skilled workers. This increasing demand presents a real opportunity because these fields offer good jobs with higher than average wages. Community, government, and business partners can take action now to take advantage of opportunities to promote Latino assets and human capital in Boston.