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Latest Research Shows Why Minorities Are ‘Beyond Broke’ As Racial Wealth Gap Persists And Threatens U.S. Economic Security

07 May
Latest Research Shows Why Minorities Are ‘Beyond Broke’ As Racial Wealth Gap Persists And Threatens U.S. Economic Security

Curious to see if the research expansion will include wealth statistics by levels of education. That would be an interesting comparison. As a person of color with a degree, I would probably be considered working class (or working poverty) and definitely lumped into the percentage of not having any liquidated assets.

THE K.JULES PROJECT

Experts Recommend New Savings and Housing Proposals to Stem Inequality as They Prepare for Summit at U.S. Capitol

Screen-Shot-2014-04-28-at-4.49.23-PMWASHINGTON, April 29, 2014—New analysis of 2011 Census data reveals an acute racial and ethnic wealth gap that is causing a group of leading experts to call for important policy and regulatory changes. In the recovery period following the Great Recession, the average African American and Latino household still owns only six and seven cents respectively for every one dollar in wealth held by the typical white family, an increase of a penny per group since 2009.

The gap is especially noticeable when it comes to access to immediate cash. Over two-thirds of African Americans (67 percent) and nearly three-fourths of Latinos (71 percent), but only one-third of whites (34 percent), are considered “liquid asset poor”, meaning that they do not have cash or assets readily converted into cash that will cover…

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Posted by on May 7, 2014 in Scholarships, Uncategorized, Writing

 

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