November 27, 2020

Nappy Newz

Black News for Black People.

Wealth Gap Widens Between Black and White Households

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As American families recover from the Great Recession’s brutal economic blow, the recovery in white and black households isn’t the same. Wealth inequality has actually expanded between racial and ethnic lines, according to a report by the Pew Research Center based on an analysis of data from the Federal Reserve’s Survey of Consumer Finances. The wealth of white households was 13 times the median wealth of black households in 2013, the highest it’s been since 1989 when whites had 17 times the wealth of blacks. The current wealth gap between the two groups is a considerable incline from the 8.3 white-to-black incline in 2010. The white-to-Hispanic ratio is disproportionate as well, with a 10.3 gap between the two groups. This is a slight increase from the 8.7 gap in 2010. Asians and other racial groups were not separately identified in the public-use versions of the Fed’s survey.

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