U.S. Latino GDP surpasses Japan to become World's 4th largest GDP. Rapid growth pushes Latino GDP to $4.4 trillion

2026 U.S. Latino GDP Report: New data from leading researchers at UCLA and Cal Lutheran indicate that Latinos are key to a bright future for the United States.

THOUSAND OAKS, CA, UNITED STATES, April 16, 2026 /EINPresswire.com/ -- New data from leading researchers at UCLA and Cal Lutheran indicate that Latinos continue powering economic growth for the U.S. economy. According to the 2026 U.S. Latino GDP Report, set for release in May, Latino GDP reached $4.4 trillion in 2024. The total economic output (GDP) of U.S. Latinos now represents the fourth largest GDP in the world. Already larger than India’s and Great Britain’s, the economic output of U.S. Latinos is larger than the GDP of Japan for the first time.

Extraordinary growth of U.S. Latino GDP is driven, in part, by strong contributions to the nation’s population and labor force. For the first time in history, one of every five people living in the United States is Latino. In 2024, the Latino labor force grew 5.5 percent, the single strongest growth on record and 4.2 percentage points stronger than Non-Latino. And the Latino labor force participation rate sits at an all-time high of 69 percent, a record 6.2 percentage points higher than Non-Latino participation.

Key findings:
• 2024 U.S. Latino GDP is $4.4 trillion, representing the fourth largest GDP in the world. U.S. Latino GDP is now nearly 9 percent larger than the entire economy of Japan.
• Growth of real Latino GDP was 6.4 percent in 2024, compared to only 2.4 percent for Non-Latino GDP. Since the start of the COVID-19 pandemic, the Latino GDP is the single fastest growing among major economies, growing even faster than India’s.
• The U.S. Latino population is now over 68 million. For the first time in history, one out of every five people living in the United States is Latino. Latinos’ population growth is currently 5.8 times as fast as growth of the Non-Latino population.
• There were 35.1 million Latinos in the U.S. labor force in 2024, up 46.5 percent since 2010. The Latino labor force grew 7.2 times faster than Non-Latino over this period.

“Now surpassing the GDP of Japan, the U.S. Latino GDP illustrates just how vital Latino strength and resilience are for the nation’s economy.” said Matthew Fienup, Executive Director of the Center for Economic Research & Forecasting at Cal Lutheran and coauthor of the report.

“The strong labor force growth demonstrates a Latino demographic resilience that has truly driven the country’s overall economic growth,” noted Paul Hsu, epidemiologist at UCLA and coauthor of the report.

“New data indicate that the U.S. Latino GDP was not only larger and growing faster in 2024, but it shattered records for economic vibrancy,” said David Hayes-Bautista, David Hayes-Bautista, Distinguished Professor of Medicine at UCLA and coauthor of the report. “Latinos are key to a bright future for the United States.”

The 2026 U.S. Latino GDP Report is the latest in a series which documents the large and rapidly growing economic contribution of Latinos living in the United States. It is also the 32nd full-length report that the Latino GDP Project has produced as part of an ambitious research initiative which analyzes the contributions of Hispanic males and females across various geographies

To download the full report upon it release in May, please visit: www.LatinoGDP.us
The 2026 U.S. Latino GDP Report is produced by the Latino GDP Project, a project of Community Partners (www.CommunityPartners.org) with the Center for Economic Research & Forecasting at California Lutheran University (www.clucerf.org) and the Center for the Study of Latino Health & Culture at UCLA (www.uclahealth.org/ceslac). For questions about the report, please contact: Matthew Fienup, Chief Economist (mfienup@callutheran.edu); and David Hayes-Bautista, Chief Demographer (dhayesb@ucla.edu).

History of the Latino GDP Project
The effort to calculate the Latino GDP began with David Hayes-Bautista in the early 2000s. His idea was to use established government data programs to calculate a robust summary statistic for the economic performance of U.S. Latinos. The original Latino GDP algorithm was developed with Werner Schink, former Chief Economist of the California EDD. They produced the inaugural U.S. Latino GDP Report in 2017. After Schink’s untimely passing, Hayes-Bautista sought out Cal Lutheran economists Dan Hamilton and Matthew Fienup. Together with UCLA colleague Paul Hsu, the team made refinements to the Latino GDP methodology and have produced more than 30 reports since 2019. The Latino GDP Project was significantly expanded in 2021 and now includes calculation of the Latino GDP for targeted states and major metropolitan areas as well as the inaugural U.S. Latina GDP Report. For more information, visit www.LatinaGDP.us and www.LatinoGDP.us

Center for Economic Research & Forecasting (CERF)
CERF is a nationally recognized economic forecasting center. CERF economists Matthew Fienup and Dan Hamilton are members of the Wall Street Journal Economic Forecasting Survey, the National Association of Business Economics (NABE) Economic Outlook survey, and the Fannie Mae (formerly Case-Schiller) Home Price Expectations Survey. They are recipients of multiple forecasting awards, including a 2025 Crystal Ball Award for the Fannie Mae forecast survey. CERF is housed at California Lutheran University, a federally designated Hispanic Serving Institution.

Center for the Study of Latino Health & Culture (CESLAC)
Since 1992, CESLAC has provided cutting-edge research, education and public information about Latinos, their health and their impact on California’s economy and society. CESLAC is a resource for community members, business leaders and policy makers who want to gain insightful research and information about Latinos. It offers unparalleled insight into Latino issues through an approach that combines cultural research, demographic trends, and historical perspective.

Matthew Fienup
Latino GDP Project
+1 805-493-3668
mfienup@callutheran.edu

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