Page 53 - Latino Boom II

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P o r t r a i t o f L a t i n o U . S . A .
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grew from 17.6 percentage points to 20.1 percentage points. However,
according to the most recent estimates of college enrollment from the
October Current Population Survey (CPS), Hispanic college enroll-
ments jumped 24 percent between 2009 and 2010, which will hopefully
help narrow that gap somewhat in the next couple of years.
And finally, the Latino entrepreneurial spirit is still alive and well,
and probably one of the growing sources of employment for the future.
According to the most recent Bureau of the Census Survey of Business
Owners (2007), Latino-owned businesses were the fastest growing small-
business sector prior to the recession; expanding at twice the rate of the
national average between 2002 and 2007 (see Figure 3.28). “The num-
ber of Hispanic-owned businesses in the United States increased by 43.7
percent to 2.3 million, more than twice the national rate of 18.0 percent
between 2002 and 2007,” the U.S. Bureau of the Census announced in
September 2010. “Hispanic-owned businesses generated $345.2 billion
in sales in 2007, up 55.5 percent compared with 2002. The number of
Hispanic-owned businesses with receipts of $1million or more increased
51.6percent—from29,168 to44,206businesses between2002and2007.”
Figure 3.28
Hispanic-Owned Businesses Growing Faster