Hispanic workers are expected to play a huge role in employment growth in the United States in coming years, according to a new study.
Over the next five years, Hispanic workers are expected to fill 40 per cent of new jobs, a number that will swell even higher over the next two decades. A total of 14 million jobs are forecasted to be created in the U.S. by 2034, and Hispanics are expected to fill 75 per cent of those roles, according to the study by IHS.
Hispanic employment growth will average 2.6 per cent per year over the next 20 years while growth of the non-Hispanic working age population will slow to near zero. Thus the Hispanic share of the total U.S. employment market will rise from 16 per cent in 2014 to 23 per cent in 2034.
“The Hispanic population is a younger and faster growing segment of the population, while trends in the non-Hispanic population are heavily influenced by the aging baby-boomer generation that is moving into retirement,” said James Gillula, IHS economist and the study’s lead author. “The Hispanic population will play an increasingly significant role in future U.S. employment growth.”
© Copyright Canadian HR Reporter, HAB Press. All rights reserved.