A (labor) force to be reckoned with: Celebrating Hispanic Heritage Month – 09/12/2024
The unsettled debate about whether the Federal Reserve can fully corral inflation without ending the current expansion has pushed the U.S. potential rate of GDP growth, or the rate at which the economy can expand at a constant rate of inflation, back into the spotlight. Labor force growth is a major determinant of an economy's potential growth rate. As labor force growth strengthens, it becomes easier for businesses to find workers to grow and expand. Yet as population growth has slowed in recent decades and is projected to downshift further, one group stands out for its contribution to labor force growth: the Hispanic and Latino community.