Hispanic Enterprise - June/July 2008 - (Page 48)

Special Advertising Feature Hiring Trends Changing demographics, a global economy and a skyrocketing Latino population mean bilingual, bicultural employees are in demand. By Virginia Cueto ou’re young, college educated, bilingual and bicultural. You easily switch from speaking Spanish with your grandparents to impeccable English at work, and maybe a fast-clipped mix of both with your peers. You watch English-language TV but also listen to Spanish-language radio and stay connected with the latest technology. You are a young U.S. Latino, and you are the future. And across Corporate America and the hallowed halls of U.S. government, you are in demand. At nearly 45 million strong, Hispanics constitute the largest ethnic minority group in the United States and the third largest Spanish-speaking community in the world, behind Mexico and Colombia, according to U.S. Census ﬁgures. By 2050, the U.S. Hispanic community will swell to 102.6 million, or 24 percent of the U.S. population. That means one in four people in the United States will be Hispanic. And, fueled by the rise of a solid professional and entrepreneurial class, Hispanic economic power is keeping pace. Y In 2007, Hispanics’ disposable income exceeded $860 billion, a ﬁgure that will balloon to more than $1.2 trillion by 2012, according to the Selig Center for Economic Growth at the University of Georgia. “In 2007, the Hispanic consumer market in the United States was about the same size as Mexico’s entire economy” —Jeff Humphreys, director, Selig Center for Economic Growth. increasingly ﬁerce. Those who know it, understand it and know how to reach it will have an edge: Enter the young Latino professional. In demand The burgeoning Latino population is not just an attractive consumer market: The Hispanic labor force will reach almost 27 million by 2016—a 30 percent increase over 2006—while the non-Hispanic workforce will increase by only 5.1 percent over the same time period, according to the U.S. Bureau of Labor Statistics (BLS). To put it into perspective: “In 2007, the Hispanic consumer market in the United States was about the same size as Mexico’s entire economy, in terms of its GDP,” says Jeff Humphreys, director of the Selig Center. As companies in the United States and abroad hungrily eye this market, com petition for a piece of the pie will grow

Table of Contents Feed for the Digital Edition of Hispanic Enterprise - June/July 2008

Hispanic Enterprise - June/July 2008 Contents Briefcase: BIZBUZZ: Business Briefs Briefcase: Dynamic Trends Briefcase: Q&A Briefcase: Trendsetters BizLife: BizTech BizLife: Travel Feature: Target: Hispanics Cover Story: A Legend in His Own Time Feature: Top 25 Franchises Success & Motivation: The Talent Scout Education: Success by Degrees Finance & Investing: A Tough Sell Social Events: Emerge Dallas Politics & Government: The Accidental Americans Managing: Deconstructing Networking

Hispanic Enterprise - June/July 2008

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