PRESIDENT ’ S VIEW
Celebrating and Honoring Hispanic Heritage Month
More than 26 million Latinos represent about 15 percent of the workforce .
By Anthony Russo President , CIANJ
United Way of Greater Mercer County ( UWGMC ) has appointed Rita Ribeiro as the first Latina to serve as president of its board . She has been a board officer with the UWGMC for the last four years , most recently as the board vice president . At Bristol Myers Squibb , she leads oncology digital engagement and serves as corporate responsibility lead for the Organization for Latino Achievement . Her new role , announced in August , comes just as we approach Hispanic Heritage Month in the United States .
Americans observe National Hispanic Heritage Month from September 15 to October 15 , by celebrating the histories , cultures and contributions of American citizens whose ancestors came from Spain , Mexico , the Caribbean and Central and South America . The observation started in 1968 as Hispanic Heritage Week under President Lyndon Johnson and was expanded by President Ronald Reagan in 1988 to cover a 30-day period starting on September 15 and ending on October 15 .
The latest U . S . Census reports that the Hispanic population grew by 23 percent in the
One of the most successful Hispanic-owned companies is New Jersey-based Goya Foods .
Photo : Goya Foods
CBRE Executive VP Gil Medina
United States since 2010 . In fact , the Latino population in the United States is the fastest growing group — currently at more than 55.4 million or 17 percent of the nation ’ s population . More than 26 million Latinos represent about 15 percent of the workforce , a number expected to nearly double by 2050 .
According to data from the U . S . Bureau of Labor Statistics ( BLS ), the contributions of Hispanics have increased steadily over the past four decades — and are projected to continue growing through 2026 . The Hispanic labor force has grown more than six times larger over the past 40 years , from 4.3 million people in 1976 to 26.8 million in 2016 . In contrast , the overall labor force , comprising all other groups combined , grew by less than half — from about 92 million in 1976 to 132 million in 2016 . The Hispanic share of the labor force is projected to increase more than that of any race or ethnic group by 2026 .
The educational achievement of Hispanics is perhaps the best way to ensure that Hispanic students are prepared to fill the great jobs of tomorrow . According to the U . S . Census Bureau , 18.6 percent of Hispanics have a bachelor ’ s degree or higher , compared with 27.3
UWGMC Board President Rita Ribeiro
percent of black , 37.7 percent of white and 60.1 percent of Asian individuals . Many of the fastest-growing occupations of the future will require more than a high school education and also will pay significantly more , according to the BLS .
For example , in 2015 , jobs that required a bachelor ’ s degree paid a median salary of $ 82,260 . By contrast , jobs that required a high school diploma or less paid a median of $ 41,730 . According to the National Center for Education Statistics , completing a bachelor ’ s degree increased yearly earning potential by nearly $ 20,000 , and a master ’ s degree increased yearly earning potential by nearly $ 30,000 .
In this month ’ s Cover Story honoring Hispanic Heritage Month , CBRE Executive VP Gil Medina said he believes that education is the key to expanding New Jersey ’ s leadership position in the innovation economy , which will create more jobs and business opportunities not just for Hispanics but for all workers . As a former Secretary of Commerce for New Jersey , Medina knows that this secret to success is worth sharing .
“ To truly transform a community , education is foundational ,” Media said .
6 COMMERCE www . commercemagnj . com