Asian Americans on the rise during Hispanic Heritage Month

Hispanics are the fastest growing minority group in the U.S. with a 3.3 percent increase between July 1, 2006, and July 1, 2007. Asian Americans are the second fastest-growing minority group, with a 2.9 percent population increase during the period. How else do these two ethnic groups compare? The estimated Hispanic population of the U.S. as of July 1, 2007, was 45.5 million. The Asian American population totaled 15.2 million.

Real median household income remained statistically unchanged in 2007 from the previous year, after adjusting for inflation, for Asian Americans ($66,103), who had the highest median income for any race group, and Hispanics ($38,679).

Hispanic economic clout totaled $862 billion in 2007 and is projected to reach $1.2 trillion in 2012. The consumer spending power of Asian Americans in 2007 was $459 billion, and is expected to increase to $670 billion in 2012.

Over 3.1 million Asian Americans age 18 and over have earned bachelor's degrees and over 1.2 million hold master's degrees. Over 2.4 million Hispanics age 18 and over hold bachelor's degrees and 598,000 have master's degrees.

California (13.2 million) had the largest Hispanic population of any state as of July 1, 2007, followed by Texas (8.6 million) and Florida (3.8 million). Texas had the largest numerical increase between 2006 and 2007 (308,000), followed by California (268,000) and Florida (131,000). In New Mexico, Hispanics comprised the highest proportion of the total population (44 percent), with California and Texas (36 percent each) next in line.

California (5 million) also had the largest Asian population on July 1, 2007, as well as the largest numerical increase during the 2006 to 2007 period (106,000). New York (1.4 million) and Texas (915,000) followed in population. Texas (44,000) and New York (33,000) followed in numerical increase.

In Hawaii, Asians made up the highest proportion of the total population (55 percent), with California (14 percent), and New Jersey and Washington (8 percent each) next.

Source USAsian Wire