With less than a year until Election Day 2012, candidates for political office should be making sure they’re not neglecting the most affluent, independent and now the fastest-growing racial group of voters simply because they have routinely been overlooked in past elections. Pity the candidates and political parties who haven’t yet figured out that Asian-Americans are coming into their own and that failing to acknowledge their rising political power may someday prove to be perilous.
Sure, some might scoff, there are only about 18.5 million Asian-Americans and Native Hawaiian/Pacific Islanders living in the country. But they rival the much-larger Hispanic community, counted by the Census Bureau as an ethnic subgroup, in the rate of growth. In 2007, the Asian community accounted for about 6 percent of business owners, almost on par with Hispanic and African-American entrepreneurs. They employed nearly 3 million Americans in 2007 and spent about $80 billion on payroll, more than businesses owned by any other racial group except for non-Hispanic whites. As of 2009, Asian-American and Native Hawaiian/Pacific Islanders had about $509 billion worth of buying power, an 89 percent change from 2000.
Asian-Americans, in particular, are highly educated: 49 percent have attained a bachelor’s degree or higher — the greatest percentage of the entire U.S. population — with whites far behind with only 31 percent college completion. This goes a long way to accounting for their household income, which like their educational attainment is tops among all U.S. residents — about $13,000 more per household than whites.
Not only that, Asian-Americans and Native Hawaiian/Pacific Islanders, with their relatively shorter time in the United States compared to other immigrants, are quick to engage in civic life. “When I was growing up, it used to be that it wasn’t until the second or third generation American-born Asians ran for office,” Karen K. Narasaki, president and executive director of the Asian American Justice Center, told me. “Now in many cases Asians are running for office as (newly naturalized citizen) immigrants — and they’re winning.