Despite progress, Latinas in California face persistent economic disparities, study finds – Orange County Register

Despite progress, economic disparities persist among Latinas statewide, according to a new report released Thursday that finds Hispanic women earn just 42 cents for every dollar paid to white men, compared to 71 cents for white women.

The report from Los Angeles-based Hispanas Organized for Political Equality (HOPE) illustrates the progress of Latinas and highlights the obstacles that stand in their way to a better quality of life and financial security. By examining national, state and regional indicators, HOPE’s survey aims to provide insight into the economic, leadership, health and education landscape of Latinas in California, juxtaposed with their white counterparts.

California has the largest Latino population in the country, with Latinos making up 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 statewide Latino homeownership rate increased 3 percentage points between 2021 and 2022, only 41% of these households have a retirement account, compared to 68% of white households. But the report finds that education rates are rising. By 2022, more than 18% of Latinas age 25 and older statewide had earned at least a bachelor’s degree, a significant increase from 2018’s 14.9%.

In terms of business and financial culture, the report determined that entrepreneurship is thriving among Latinos, with a 23% increase in the number of Latino-owned businesses between 2018 and 2021, generating nearly 147,000 jobs with an annual payroll of $5.92 billion. However, the interviews suggest that improving financial literacy is crucial to address the state’s high cost of living and ensure sustainable growth.

Even as education rates for Latinas increase, challenges remain. Graduation rates and access to Advanced Placement courses still lag behind those of white students. In 2022, more than 18% of Latinas age 25 and older statewide had earned at least a bachelor’s degree, showing a positive trend from 2018 but significantly lower than the rate of nearly 48% for white women .

Health disparities have been exacerbated by the COVID-19 pandemic, according to HOPE. Life expectancy at birth decreased by 4.1 years for Latinas and 3.1 years for Black women between 2019 and 2021, compared to 1.8 years for non-Hispanic white women. Latina and Black women have faced disproportionate impacts, with higher mortality rates and disparities in maternal care.

The report also found that the uninsured rate for Latinas in California was at an all-time low of 8.8% in 2022, compared to a total rate of 6.5%, but both rates are expected to increase as policies related to the pandemic will expire.

Despite a doubling of Latina representation on California corporate boards between 2020 and 2021, Latinas held just 3.3% of board seats last year, HOPE said. In appointments to government boards and commissions made by Governor Gavin Newsom, Latinas made up 9% of all appointments in 2023.

Although there has been a significant increase in Latino representation in state offices since 2015, with Latinas making up 25% of the state legislature, the presence of Latinas in national offices remains low, with only four Latino members of Congress out of 52 seats in the U.S. House of Representatives filled. by the Californians.

“This report highlights the urgency of addressing the persistent economic disparities faced by Latinas in California,” said Helen Torres, CEO of HOPE. “By recognizing these challenges and working together to implement equitable solutions, we can create a more inclusive society where every Latina has the opportunity to thrive.”

The report will be the central topic of discussion at an informational hearing of the State Assembly Select Committee on Latino Inequalities, chaired by Assemblywoman Wendy Carrillo, at the State Capitol on May 8 .