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California Latino GDP tops $1 trillion, researchers tell Senate committee
Summary
Researchers told the California State Senate select committee that Latinos in California generated more than $1 trillion in direct economic activity in 2023, driving labor-force growth and consumption that underpin the state's overall economy.
State Senator Susan Rubio convened the California State Senate Select Committee on Minority Economic Development for a briefing in Sacramento where researchers from the Latino GDP project presented new findings showing the direct economic contribution of Latinos living in California exceeded $1,000,000,000,000 in 2023.
Matthew Fienup, a researcher with the Latino GDP project, told the committee the figure reflects rapid growth across labor force participation, education and consumption. “In that year, the direct economic contribution of Latinos living in California passed $1,000,000,000,000 for the first time,” Fienup said. He added Latino consumption in California now tops more than $700,000,000,000, and that Latino GDP has grown more than twice as fast as…
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