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Hispanics’ buying power increases in Idaho

The recession took a significant bite out of Idaho’s economy in 2009 but didn't stop the growth of Hispanics' economic influence, the state Department of Labor reports.

Hispanic buying power grew 10 times faster than the buying power of the state’s non-Hispanic residents, according to estimates from the Selig Center for Economic Growth at the University of Georgia.

The buying power of Idaho’s Hispanic population rose 3.1 percent in 2009 to $2.5 billion. In contrast, buying power for non-Hispanic residents was up three-tenths of a percent in 2009 to $41.3 billion.

Buying power is the personal income people have left after taxes. It covers necessities, such as food, clothing and housing, and luxuries like recreation equipment and vacations.

In the last 20 years, the Hispanic share of Idaho’s total buying power has doubled from 2.8 percent to 5.7 percent. The increase is primarily the result of a growing Hispanic population, the Department of Labor reports. 

Becky Kramer
Becky Kramer covers business news.

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