Hispanic in US – Will account for over 40% for the increase in overall employment

The US economy is nearing a period when labor force growth will slow sharply as an ever larger proportion of the Baby Boomer generation retires. During this time, Hispanic employment will continue to show strong growth, even under conservative assumptions about Hispanic immigration. This report presents the results of projections of future US labor force and employment growth, broken out to identify differing trends for the Hispanic and non- Hispanic populations. Principal findings of our analysis are

• Labor force growth is expected to accelerate over the next three years as the pace of economic growth picks up and more people are drawn back into the labor force, but thereafter labor force growth will begin to slow sharply. From 2020 to 2034, labor force growth is expected to average only 0.6% per year.
• The Hispanic population will play an increasingly significant role in US employment growth because Hispanics are a younger and faster-growing segment. Under conservative assumptions about Hispanic immigration, we project that Hispanic employment growth will average 2.6% per year over the next 20 years and rise from 16% of US employment in 2014 to 23% in 2034.
• In this baseline forecast, over the next five years the Hispanic population will account for over 40% of the increase in US employment. Over the last 15 years of the forecast period, Hispanics will account for over three-fourths of the increase in US employment.

Chosen excerpts by Job Market Monitor. Read the whole story at Hispanic Immigration and US Economic Growth Special Report | IHS.