National Hispanic Heritage Month is September 15 to October 15 every year. Hispanic (or Latino) refers to people from 22 countries of origin including Central and South America, Mexico, Cuba, Puerto Rico, etc.
This is the time we celebrate all the contributions that Latinos/Hispanics have made to the United States of America. We also celebrate the rich heritage and unique culture that Latinos influence on our country. The 2010 Census highlighted that the United States has a 16% Hispanic or Latino representation; that is almost 1 in every 6 Americans are Latino/Hispanic. It is also estimated that by the year 2030 the Latino/Hispanic population with be 1 in 3 Americans (30%). Today, 1 in 5 school children is Hispanic and 1 in 4 newborns are Latino. Hispanics will and have contributed to our country through their strong commitment to family, culture, traditions, customs, faith, service and hard work. That is why we celebrate the Latino/Hispanic people during this month!
Now, why should we celebrate the Hispanic/Latino Millennials?
In 2013, the Hispanic Gen Yers made up 25% of all Latinos in the United States. Furthermore, the U.S. median age is 36.8 (Gen X) and the Hispanic population median age is 27.4 (Gen Y). This age difference as well as the growing Latino population in the United States will have a profound impact on the economy, politics, society, marketing, business, education, etc. It is anticipated that in 2015 Hispanics will represent 1.5 trillion in purchasing power.
Organizations are trying to understand not only what Latino Millennials purchase but how to attract, retain and develop the Hispanic Millennials. The top factors for millennials when deciding to apply for a job: what the company specifically does, sells or produces, company work culture, company involvement with causes, office environment and company diversity and inclusion programs.