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However, the wealth gap has only widened. In 2022, the Urban Institute reported the average Black household had roughly $211,000 in wealth, while the average Hispanic household had roughly $227,544.
The racial wealth gap could be reduced by 10% over three generations if Black households wrote wills at the same rate as white ones, according to a recent study.
For every $100 the average white family had in wealth, the average Black family had $15.75, per 2022 Federal Reserve data. Is racial wealth gap 'smallest it's been in 20 years,' as President Joe ...
A December 2011 Gallup poll found a decline in the number of Americans who rated reducing the gap in income and wealth between the rich and the poor as extremely or very important (21 percent of Republicans, 43 percent of independents, and 72 percent of Democrats). [191] Only 45% see the gap as in need of fixing, while 52% do not.
Economic inequality is also a result of difference in income. Factors that contribute to this gap in wages are things such as level of education, labor market demand and supply, gender differences, growth in technology, and personal abilities. The quality and level of education that a person has often corresponds to their skill level, which is ...
WASHINGTON -- The wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young ...
The wealth gap between Caucasian and African-American families studied nearly tripled, from $85,000 in 1984 to $236,500 in 2009. The study concluded that factors contributing to the inequality included years of home ownership (27%), household income (20%), education (5%), and familial financial support and/or inheritance (5%). [ 11 ]
This, he says, has caused the wealth gap with many people barely getting by while others thrive. “It was an agrarian economy a couple hundred years ago,” he said in an interview with CNN.