Monday, December 15, 2014
Pew Research Center, Wealth Inequality Has Widened Along Racial, Ethnic Lines Since End of Great Recession:
The Great Recession, fueled by the crises in the housing and financial markets, was universally hard on the net worth of American families. But even as the economic recovery has begun to mend asset prices, not all households have benefited alike, and wealth inequality has widened along racial and ethnic lines.
The wealth of white households was 13 times the median wealth of black households in 2013, compared with eight times the wealth in 2010, according to a new Pew Research Center analysis of data from the Federal Reserve’s Survey of Consumer Finances. Likewise, the wealth of white households is now more than 10 times the wealth of Hispanic households, compared with nine times the wealth in 2010. ...
The current gap between blacks and whites has reached its highest point since 1989, when whites had 17 times the wealth of black households. The current white-to-Hispanic wealth ratio has reached a level not seen since 2001. ...
Leaving aside race and ethnicity, the net worth of American families overall — the difference between the values of their assets and liabilities — held steady during the economic recovery. The typical household had a net worth of $81,400 in 2013, according to the Fed’s survey — almost the same as what it was in 2010, when the median net worth of U.S. households was $82,300 (values expressed in 2013 dollars).
The stability in household wealth follows a dramatic drop during the Great Recession. From 2007 to 2010, the median net worth of American families decreased by 39.4%, from $135,700 to $82,300
- FiveThirtyEight, The Wealth Gap Between Whites And Minorities Is Growing
- Investor's Business Daily, The Black-White Wealth Gap Has Widened Under Obama
- NPR, Wealth Gap Between Races Widened During Recession, Study Says
- U.S. News & World Report, Wealth Inequality Has Widened Along Racial Lines
- Vox, The Median Wealth for Whites in the US Is Nearly $142,000. For Blacks, It's $11,000.
- Washington Post, White People Have 13 Dollars for Every Dollar Held by Black Americans