Latina women earn only 42 cents for every dollar paid to white men

Report Issue

Please complete the required fields.

Your Name

Email

Reason (required)
This post contains broken linksPost has incorrect informationPost has spamCopyright IssueOther

Description

Submit

Despite strides, economic disparities persist among Latinas statewide, according to a new report issued recently that found Hispanic women earn only 42 cents for every dollar paid to white men compared to 71 cents for white women.

The report by Los Angeles-based Hispanas Organized for Political Equality (HOPE) illustrates Latina progress and underscores the barriers hindering their path to a better quality of life and financial security. By examining national, state, and regional indicators, HOPE’s survey aims to offer insights into the economic, leadership, health, and educational landscape of Latinas in California, juxtaposed against their white counterparts.

California has the largest Latino population in the nation, with Latinas comprising 20% of the state’s total population and 40% of all women, according to the fourth installment of HOPE’s Economic Status of Latinas in California report.

While the Latino homeownership rate statewide increased by 3 percentage points between 2021 and 2022, only 41% of such households have retirement accounts compared to 68% of white households. But the report found education rates were on an upswing. In 2022, over 18% of Latinas aged 25 and older throughout the state had obtained at least a bachelor’s degree, a significant increase from 14.9% in 2018.

In terms of business and financial literacy, the report determined that entrepreneurial spirit thrives among Latinas, with a 23% increase in Latina-owned employer businesses between 2018 and 2021, generating nearly 147,000 jobs with an annual payroll of $5.92 billion. However, interviews suggest a crucial need for improved financial literacy to navigate the state’s high cost of living and ensure sustainable growth.

While education rates among Latinas are rising, challenges remain. Graduation rates and access to advanced placement courses still trail behind those of white students. In 2022, over 18% of Latinas aged 25 and older statewide had obtained at least a bachelor’s degree, showing a positive trend compared to 2018, but significantly lower than the nearly 48% rate for white women.