News Column

Hispanic Economics Profiled by Census Bureau

September 30, 2013

Staff Reports --

hispanic businessman

In a bit of cultural profiling that might actually benefit the Hispanic community and society at large, the U.S. Census Bureau offers a daily "Profile America" on the economic condition of U.S. Hispanics.

As the fiscal year sputters out amid a budget battle in the federal government and a plunging stock market, the country's 53 million U.S. Hispanics inhabit "a formidable and expanding place in the nation's economy," the bureau said in a news release.

More than 19 percent of U.S. Hispanics age 16 or older work in management, business, science and the arts. More influential, however, is the growing number of U.S. Hispanic-owned businesses in the country.

According to the bureau's most recent tabulations -- which would be the 2007 economic census, as the 2012 census is still be figured -- there are some 2.3 million Hispanic enterprises in the U.S., a rise of nearly 46 percent from five years earlier.

Related: Responses Still Needed for Economic Census

Revenues from Hispanic-owned businesses showed an even greater rise, with receipts at $350 billion, an increase of more than 58 percent.

The 2012 economic census is still being tabulated, and owners are encouraged to report their numbers to the bureau. In fact, the law requires them to do so.

Sources: U.S. Census Bureau, Facts for Features, CB13-FF.19.

For more stories on small businesses and entrepreneurs, please see HispanicBusiness' Entrepreneur Channel

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