What are the pros and cons of the use of "umbrella" racial-ethnic group designations, such as "Hispanic" and "Asian"?

As given below

Explanation:

People that have a common identity and relate themselves and those members think themselves distinct by the virtue, culture and the physical characteristic and speak the same languages. As a con, they are considered to be a minority and are discriminated against kept in isolation and have unequal access to food and housing and employment.