Five years ago, McKinsey launched a dedicated research effort to better understand the economic experience of Latinos in the United States—one of the most dynamic and rapidly growing communities in the country. What began as an inquiry into the structural barriers and opportunities shaping Latino economic mobility has developed into a rich body of research. We have aimed to bring data, insight, and lived experience into clearer view—to illuminate not only the challenges facing Latino communities but also the extraordinary potential they represent for the country’s economic future.
Latinos today make up nearly one in five Americans and are the nation’s second-largest racial or ethnic group. By mid-century they are projected to be more than one in four. They are also projected to account for nearly 80 percent of net new workers this decade, start businesses at faster rates than any other demographic group, and shape culture and consumption in ways that increasingly define the mainstream economy. Their annual economic contribution already measures in the trillions of dollars. Yet persistent barriers—unequal access to capital, gaps in representation, and structural inequities in wealth and opportunity—continue to constrain the full expression of that potential. Closing these gaps is a strategic imperative for US competitiveness and long-term growth.
This compendium reflects the arc of our research journey. Since 2021, in partnership with Aspen Conexión (formerly known as the Aspen Institute Latinos and Society Program), we have published five annual flagship reports about the economic state of Latinos in America. Our first report, “The economic state of Latinos in America: The American dream deferred,” established a framework across the roles Latinos play as consumers, workers, entrepreneurs, savers, and investors. Our next report, “Determined to thrive,” shed light on Latino consumers’ resilience and upward mobility, even against structural headwinds. The following year, “Advancing financial growth,” examined pathways to wealth building and capital access. In 2024, we looked at the vibrancy and growing potential of Latino entrepreneurs in “Building up small businesses.” Most recently, we explored the power of fandom and representation in sports in “Unlocking the growing power of Latino fans: Building a stronger sports economy.” Over the years, we have also published a report on Latinos in Hollywood, analyses showing levels of prosperity and parity across America, and interviews with Latino leaders, including baseball legend and investor Alex Rodriguez.
McKinsey on Latino economic mobility
Viewed together, these reports offer comprehensive insights into Latino economic mobility in the United States. They also underscore a consistent message: Latinos are essential to America’s economic engine and expanding their access to opportunity benefits not only Latino households but also the prosperity and social cohesion of the country as a whole.
This year marks the 20th anniversary of McKinsey’s Hispanic and Latino Network, reflecting a broader institutional commitment to opportunity, mentorship, and belonging for Hispanic and Latino colleagues across the firm. Established in 2006, the network has grown into a vibrant community of colleagues, alumni, and allies. Over the past two decades, it has helped deepen McKinsey’s engagement with Latino communities and advance dialogue on Latino economic opportunity and mobility—reinforcing our belief that diverse perspectives, inclusive leadership, and expanded access to opportunity strengthen both institutions and society.
As we look toward the future, new forces will shape the landscape of Latino mobility. Geopolitical shifts—from immigration policy to global trade—will have profound implications for families, workers, and industries. The evolution of technology, including the rapid emergence of artificial intelligence, presents both risk and possibility. The right investments in skills, training, and equitable access could open new pathways to high-growth careers. Education will remain a cornerstone of mobility, especially as technological change reshapes the jobs of the future. In each of these areas, rigorous research and clear-eyed analysis will be critical to informing policy, guiding leaders, and supporting communities.
Our commitment to this work is grounded in a simple belief: When Latinos thrive, America thrives. We hope this compendium serves not only as a record of the insights gained over the past five years but also as a catalyst for continued action. The opportunity ahead for public, private, and social sectors is significant. Together, we can help ensure that Latino economic mobility is not a deferred promise, but reality for generations to come.
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