The Number of Latino Construction Business Owners Rises in Every Age Group

The only growth segment in the construction industry? Latino-owned businesses.

The number of business owners in the construction industry (firms involved in the construction of buildings, heavy/civil engineering construction, or specialty trade contractors) declined 8% from 2.3 million in 2007 to 2.1 million in 2012, according to the U.S. Census Bureau’s Survey of Business Owners (collected in years ending in ‘2’ and ‘7’). An earlier post reported that the number of business owners of residential construction firms (a sub-sector of the larger group above) declined 12% during this period (down to 689,000 firms).  This post analyzes how the change in the number of business owners in the entire construction industry varied by the age and race/ethnicity of the business owner. {One exception were Latino construction business, which saw an increase in numbers].

The contraction in the construction industry was more pronounced among younger business owners. In 2012, there were 23% fewer construction business owners under the age of 25 than in 2007, 19% fewer aged 25 to 34, 22% fewer aged 35 to 44, and 13% fewer aged 45 to 54.  In contrast, there were 14% more construction business owners aged 55 to 64 in 2012 than in 2007 and 21% more aged 65 or older.

READ MORE

Subscribe today!

  • This field is for validation purposes and should be left unchanged.

Must Read

Coronavirus: Mexican wrestlers sew Lucha Libre face masks

Victor Landa April 23, 2020

Unable to compete due to coronavirus, Mexico’s Lucha Libre wrestlers have taken up sewing face masks. Social distancing means the iconic sport is on hold for now, so fighters need […]

Latinos: COVID-19 Disrupts Finances, Daily Life, Mental Health

Victor Landa April 6, 2020

COVID-19 doesn’t discriminate. But U.S. Latinos are more likely than all Americans to say the coronavirus pandemic changed their daily lives, and disrupts their mental health, finances, and jobs, according to new Pew Research […]

A Profile of Coronavirus and the Latino Workforce

Victor Landa April 13, 2020

*This article was originally published in the NALCAB Blog. Over the last month, the Coronavirus pandemic has ravaged the lives and well-being of all Americans. It has disproportionately impacted the most […]

Hispanics more likely than Americans overall to see COVID-19 as a major threat to health and finances

Victor Landa April 14, 2020

Hispanics are more concerned than Americans overall about the threat the COVID-19 outbreak poses to the health of the U.S. population, their own financial situation and the day-to-day life of their local […]

Coronavirus could ‘decimate’ Latino wealth, which was hammered by the Great Recession

Victor Landa April 16, 2020

Octavia Nieto worked for over 10 years as a pastry chef at a bakery in Princeton, New Jersey. Now with the business closed indefinitely, she relies on a part-time job […]

Latino Teens: Distance Learning Is a Giant Stressor amid Coronavirus

Victor Landa April 22, 2020

Latino teens are more worried than their peers that they won’t be able to keep up with school work or extracurricular activities amid coronavirus, says a new survey by Common Sense and […]

LATINX PLAYERS POISED TO BLOW UP THE 2020 NFL DRAFT

Victor Landa

Despite these uncertain times, the 2020 NFL Draft will proceed as planned. But because of the COVID-19 outbreak, the 2020 NFL draft will be held virtually for the first time […]

Government Relief Less Likely To Reach Latino Businesses

Victor Landa April 23, 2020

Latino communities may face a generational setback in growing wealth, as the pandemic-driven downturn exacerbates an already present gap in funding for their small businesses. Juan Rios sits among the […]