ARTICLE
While Latinos represent the fastest-growing minority group in Pennsylvania, much more work needs to be done to ensure they have greater opportunities to become economically stable. That’s the message driven home by a roundtable discussion led by local business leaders and executives at the Hispanic Center Lehigh Valley at East Fourth Street in South Bethlehem on Thursday afternoon. A new report by a national advocacy organization on the state of the economy for Latinos disclosed a mixed outlook of progress, setbacks and stalled growth, highlighting such factors as employment prospects, health coverage and household income. A presentation by Rafael Collazo, director of political campaigns for the office of research, advocacy and legislation for the National Council of La Raza, a Washington, D.C.-based nonprofit, shared some of the major points of the report. Between 2010 and 2015, the Hispanic population in Pennsylvania grew by 20 percent, the report said. During this period, the Hispanic population in the state increased at nearly twice the growth rate of Latinos nationwide. In Pennsylvania, the Latino population is 837,487, according to the report. “Latinos are the group that are establishing themselves more in the state than anyone else,” Collazo said. “We are an important state in electoral politics. The population is approaching 1 million state-wide.” ENCOURAGING SIGNS Collazo highlighted trends in the report that encourage economic security for Latinos. “We have a pretty significant increase in entrepreneurship,” Collazo said. “We are seeing a positive trend for Latino families to engage banks and financial institutions.” Also, Latino children’s health coverage remains above average, and this coverage is critical for the financial well-being of families as insurance helps families cover unexpected health care costs, the report said. Another trend shows that access to employer-sponsored retirement plans is higher than average, with slightly more than half of Latinos (54 percent) in the state having access to retirement funds. However, only 42 percent of Latinos with access to these plans participate in them, compared to 56 percent of the state as a whole. LAGGING IN OTHER AREAS Several trends hinder economic security for Latinos, the report said. Latinos still have one of the highest unemployment rates of any racial or ethnic group and one in 10 Latinos is unemployed – nearly double the unemployment rate of the overall population. The report showed Latinos also have lower household income. In 2014, Latinos showed a median income of $34,491 compared to $53,115 for the state overall. Contributing to Latino poverty is the state’s minimum wage of $7.25. Furthermore, the report showed only 42 percent of Hispanics in Pennsylvania own a home and fewer than 15 percent of Latinos 25 or older in the state have a bachelor’s degree or higher. While the number of Latino-owned businesses has been on the rise and the proportion of Hispanic households that do not use banks has decreased, more work should be done to drive economic growth, according to the report. JUST THE BEGINNING Collazo listed several ways state and federal leaders could support policies that help Latinos gain greater equity and economic stability. These include expanding access to refundable tax credits, increasing access to safe financial products, restoring the value of the minimum wage and preserving homeownership and keeping rents affordable. The event, hosted by the Hispanic Chamber of Commerce, part of the Greater Lehigh Valley Chamber of Commerce, included representatives from Northampton Community College, Hispanic Center Lehigh Valley and others interested in exploring ways to build economic security for Latinos. “We want this to be the beginning of a dialogue,” Collazo said, noting there are programs benefiting Latinos in the Lehigh Valley that could possibly be replicated around the nation. During the discussion, people discussed challenges and potential solutions to increase economic opportunities for Latinos. These included addressing the need for education in financial skills, having more companies offer job shadowing and opportunities for hiring more bilingual workers, plus finding ways to market the programs and resources available to Latinos. TRAINING, HIRING OPPORTUNITIES Lorna Velazquez, executive director of Hispanic Center Lehigh Valley, spoke about the creation of CareerLink Lehigh Valley opening of its first job training and employment center in the Hispanic Center. The center offers computer labs to search for jobs, classes in basic computer skills and other programs that aim to help people find and land jobs. “Our board is really focused on creating change for the better,” she said. “We want to be not just an enabler but a safety net for people.” The Hispanic Center is working to raise $2.5 million to renovate the building and create The Fowler Community Center to create an interdisciplinary environment, Velazquez said. Tenants will include Pinebrook Family Behavioral Health and St. Luke’s, she said. So far, the Hispanic Center has raised $800,000. The organization wants to make the building compliant with the Americans with Disabilities Act, which includes adding an elevator. To read the whole article, click here.
While Latinos represent the fastest-growing minority group in Pennsylvania, much more work needs to be done to ensure they have greater opportunities to become economically stable.
That’s the message driven home by a roundtable discussion led by local business leaders and executives at the Hispanic Center Lehigh Valley at East Fourth Street in South Bethlehem on Thursday afternoon.
A new report by a national advocacy organization on the state of the economy for Latinos disclosed a mixed outlook of progress, setbacks and stalled growth, highlighting such factors as employment prospects, health coverage and household income.
A presentation by Rafael Collazo, director of political campaigns for the office of research, advocacy and legislation for the National Council of La Raza, a Washington, D.C.-based nonprofit, shared some of the major points of the report.
Between 2010 and 2015, the Hispanic population in Pennsylvania grew by 20 percent, the report said. During this period, the Hispanic population in the state increased at nearly twice the growth rate of Latinos nationwide.
In Pennsylvania, the Latino population is 837,487, according to the report.
“Latinos are the group that are establishing themselves more in the state than anyone else,” Collazo said. “We are an important state in electoral politics. The population is approaching 1 million state-wide.”
ENCOURAGING SIGNS
Collazo highlighted trends in the report that encourage economic security for Latinos.
“We have a pretty significant increase in entrepreneurship,” Collazo said. “We are seeing a positive trend for Latino families to engage banks and financial institutions.”
Also, Latino children’s health coverage remains above average, and this coverage is critical for the financial well-being of families as insurance helps families cover unexpected health care costs, the report said.
Another trend shows that access to employer-sponsored retirement plans is higher than average, with slightly more than half of Latinos (54 percent) in the state having access to retirement funds. However, only 42 percent of Latinos with access to these plans participate in them, compared to 56 percent of the state as a whole.
LAGGING IN OTHER AREAS
Several trends hinder economic security for Latinos, the report said.
Latinos still have one of the highest unemployment rates of any racial or ethnic group and one in 10 Latinos is unemployed – nearly double the unemployment rate of the overall population.
The report showed Latinos also have lower household income. In 2014, Latinos showed a median income of $34,491 compared to $53,115 for the state overall. Contributing to Latino poverty is the state’s minimum wage of $7.25.
Furthermore, the report showed only 42 percent of Hispanics in Pennsylvania own a home and fewer than 15 percent of Latinos 25 or older in the state have a bachelor’s degree or higher.
While the number of Latino-owned businesses has been on the rise and the proportion of Hispanic households that do not use banks has decreased, more work should be done to drive economic growth, according to the report.
JUST THE BEGINNING
Collazo listed several ways state and federal leaders could support policies that help Latinos gain greater equity and economic stability. These include expanding access to refundable tax credits, increasing access to safe financial products, restoring the value of the minimum wage and preserving homeownership and keeping rents affordable.
The event, hosted by the Hispanic Chamber of Commerce, part of the Greater Lehigh Valley Chamber of Commerce, included representatives from Northampton Community College, Hispanic Center Lehigh Valley and others interested in exploring ways to build economic security for Latinos.
“We want this to be the beginning of a dialogue,” Collazo said, noting there are programs benefiting Latinos in the Lehigh Valley that could possibly be replicated around the nation.
During the discussion, people discussed challenges and potential solutions to increase economic opportunities for Latinos.
These included addressing the need for education in financial skills, having more companies offer job shadowing and opportunities for hiring more bilingual workers, plus finding ways to market the programs and resources available to Latinos.
TRAINING, HIRING OPPORTUNITIES
Lorna Velazquez, executive director of Hispanic Center Lehigh Valley, spoke about the creation of CareerLink Lehigh Valley opening of its first job training and employment center in the Hispanic Center. The center offers computer labs to search for jobs, classes in basic computer skills and other programs that aim to help people find and land jobs.
“Our board is really focused on creating change for the better,” she said. “We want to be not just an enabler but a safety net for people.”
The Hispanic Center is working to raise $2.5 million to renovate the building and create The Fowler Community Center to create an interdisciplinary environment, Velazquez said.
Tenants will include Pinebrook Family Behavioral Health and St. Luke’s, she said.
So far, the Hispanic Center has raised $800,000. The organization wants to make the building compliant with the Americans with Disabilities Act, which includes adding an elevator. To read the whole article, click here.