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America is changing. The melting pot is becoming more of a reality with the proliferation of multicultural, racial, ethnic and mixed-race identities in the U.S. Diversity is no longer a buzz word of the new millennium. It’s a term to be factored into all aspects of society including business, community and politics to keep America competitive and prosperous.

By 2050, the U.S. population is expected to be majority minority at a rate of 54%. Below are some stats on the changing face of America.

U.S. Hispanics
In 2010, 50.5 million Hispanics, 16% of the population, resided in the U.S. By 2050, that figure will double in size, when one in three residents will be of Hispanic origin. The purchasing power of Hispanics, now at $1.3 trillion, will also increase substantially.

African Americans
An estimated 40 million African Americans reside in the U.S. This group represents 13% of the total U.S population, remaining relatively unchanged from 2000. By 2050, it is expected to grow to 15% and possess a purchasing power of $1.1 trillion by 2015.

Asian Americans
Nearly 15 million Asian Americans account for a segment of the U.S. population, representing about five percent of all Americans. That figure is expected to increase to nine percent by 2050. It’s estimated that by 2017, Asian Americans will have a purchasing power of $1.1 trillion, due to having higher incomes than other racial minority groups.

Baby Boomers
By 2030, one in five U.S. residents will be over age 65. Baby Boomers are staying in the job market longer and are working along side millennials, giving rise to one of the most dynamic workplaces ever.

Sources: Black Enterprise Magazine, Hispanicize, Nielsen, New Media America, Selig Center for Economic Growth, U.S. Census Bureau. For more information on the changing face of America, read The Next America, by Paul Taylor, Executive VP Pew Research Center.

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