A new study titled 'Giving Life to the Economy' builds on previous reports regarding Latino contributions to the U.S. GDP, highlighting the significant economic impact of Latina women.

Funded by Bank of America and conducted by professors from California Lutheran University and UCLA, the report underscores that Latina women are vital economic drivers in the United States.

In 2021, Hispanic women contributed an impressive $1.3 trillion to the U.S. GDP, a substantial increase from $661 billion in 2010, reflecting a growth rate nearly three times that of non-Hispanic groups.

This $1.3 trillion contribution is comparable to Florida's GDP and ranks just behind California, Texas, and New York, according to the U.S. Bureau of Economic Analysis.

Matthew Fienup, an economist and one of the report's authors, noted that Latina women excel in key economic metrics, such as workforce participation and educational attainment, outperforming their ethnic and gender peers.

David Hayes-Bautista, another co-author, explained that as older Latina immigrants exit the workforce, their U.S.-born daughters and granddaughters are stepping in, equipped with higher education and bilingual skills.

Hayes-Bautista emphasized that these younger generations are combining their ancestors' strong work ethic with enhanced human capital, creating a positive ripple effect in the economy.

Despite facing challenges, Latinas are making strides in entrepreneurship and home ownership, although they still encounter barriers in accessing capital.

While women have made notable progress in high-ranking positions and high-income industries, the gender pay gap has stagnated for nearly two decades, disproportionately affecting Latina and Black workers.

Fienup pointed out that the economic growth of Latinas is evident in rising incomes and economic mobility, with their workforce growth occurring nine times faster than that of non-Latinos.