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Wed Feb 27, 2013, 05:04 PM

The Wealth Gap Between Whites And African-Americans Tripled Over The Last 25 Years

The Wealth Gap Between Whites And African-Americans Tripled Over The Last 25 Years

By Pat Garofalo

During the Great Recession, the wealth gap between whites and African-Americans nearly doubled, leaving white with nearly 22 times as much in household wealth. According to a new study from Brandeis University’s Institute on Assets and Social Policy, this merely exacerbated a much longer trend during which the wealth of whites exploded while that of African-Americans stagnated:

In 2009, a representative survey of American households revealed that the median wealth of white families was $113,149 compared with $6,325 for Latino families and $5,677 for black families.

Looking at the same set of families over a 25-year period (1984-2009), our research offers key insight into how policy and the real, lived-experience of families in schools, communities, and at work affect wealth accumulation. Tracing the same households during that period, the total wealth gap between white and African-American families nearly triples, increasing from $85,000 in 1984 to $236,500 in 2009.


- more -

http://thinkprogress.org/economy/2013/02/27/1644721/wealth-gap-tripled-25/


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ProSense Feb 2013 #1

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Wed Feb 27, 2013, 06:02 PM

1. Kick! n/t

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