A new National Council of La Raza (NCLR) report finds Latinos in Florida are obtaining college degrees at faster rates and rapidly opening businesses, even as the number of them living under the poverty level is nearly double that of whites.

Researchers also found one out of every four Floridians is now Latino and the state is presently home to the country's third largest Hispanic population. At current growth levels, by 2028 the majority of the state's population will be comprised of an ethnic or minority group.

As for more disheartening news, Latino household wealth continues to lag far behind that of non-Latino white households, even though they lead the state in the percentage of workers making up the overall work force at 63.9 percent.

Latinos Topping the State's Overall Workforce

Overall, just 60.6 percent of the state population is part of the work force, with Latino men comprising the highest employment-to-population ratio among all groups at 68.2 percent.

In addition, Latino owned businesses have been an integral part of Florida's overall growth. Over a five-year period commencing in 2007, the number of Hispanic-owned businesses increased by 34 percent, culminating in more than 600,000 Latino-owned operations by 2012 that generated nearly $90 million in gross income.

Latinos are also outpacing other groups in earning college degrees, with the number of Florida Latinos walking away with a bachelor's degree or higher from 2010 to 2014 increasing by 22 percent. In all, more than 670,000 now own a bachelor's or higher.

On the flip side, the rate of uninsured Latino children (12.1 percent) is nearly three percentage points higher that of all the state's children (9.3 percent). Researchers note across the state children who have health children are much more likely to surpass the economic status of their parent, making improvements in health care access a key variable in gauging how well Latinos may be genuinely be rising.

More Latinos Living Below Poverty Levels

Overall, the number of Latinos found to be living below poverty levels stands at 22 percent, or nearly double that of non-Latino whites. In 2014, the median income in Hispanic households was $40,903, compared to $50,336 for white homes.

In addition, white households have over 12 times the wealth of Hispanic households. In 2011, the median Hispanic household wealth was just $6,000 compared to over $100,000 for white households.

Researchers found Latina women earn less than any other major racial group, regardless of gender. Overall, Latinas earn just 59 cents for every dollar pocketed by white males.