- Mar 11, 2015
- 83,251
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The racial weath gap is real. It's not just black and white. Take away the 110,000 per year Indians get on average and Asians aren't doing so great either. And many of the Indians earning that money are here on H1B visas. Yet we don't see anyone who claims to oppose race based preferences complaining about how Indians get this preference.
The increase in the wealth of U.S. households from 2019 to 2021 was spread widely across racial and ethnic groups. Despite improved fortunes, Black, Hispanic and multiracial households trailed White and Asian households by large margins from the following perspectives, both before and after the pandemic:
Asian households overall had more wealth than other households two years since the start of the pandemic. In 2021, Asian households had a median net worth of $320,900, compared with $250,400 for White households. The median net worth of Hispanic households ($48,700) and Black households ($27,100) was much less.
In dollar amounts, the wealth gap between White households and Black and Hispanic households increased from 2019 to 2021. For example, in 2019, the typical White household had $168,800 more in wealth than the typical Hispanic household. This gap increased to $201,700 in 2021.
www.pewresearch.org
And don't come with that garbage about blacks and education.
“Even after completing undergraduate and graduate degrees, black and Hispanic workers earned less than non-Hispanic white workers with the same, or often less, education.”
“Even when Blacks and Hispanics go the extra mile and earn professional degrees, their incomes still don’t break six figures. Whites and Asians, however, double their incomes by earning professional degrees, allowing them to make well over $100,000 a year.”
- Roy Eduardo Kokoyachuk, ThinkNow Research
It's really time the excuses and denial stopped. The problem is obvious.
The increase in the wealth of U.S. households from 2019 to 2021 was spread widely across racial and ethnic groups. Despite improved fortunes, Black, Hispanic and multiracial households trailed White and Asian households by large margins from the following perspectives, both before and after the pandemic:
- Their wealth relative to the wealth of White and Asian households.
- The shares of households that are in the middle or upper tiers of wealth.
How wealth varies by race and ethnicity
Asian households overall had more wealth than other households two years since the start of the pandemic. In 2021, Asian households had a median net worth of $320,900, compared with $250,400 for White households. The median net worth of Hispanic households ($48,700) and Black households ($27,100) was much less.
In dollar amounts, the wealth gap between White households and Black and Hispanic households increased from 2019 to 2021. For example, in 2019, the typical White household had $168,800 more in wealth than the typical Hispanic household. This gap increased to $201,700 in 2021.
2. Wealth gaps across racial and ethnic groups
Household wealth or net worth is the value of assets owned by every member of the household minus their debt. The terms are used interchangeably in this
www.pewresearch.org
And don't come with that garbage about blacks and education.
“Even after completing undergraduate and graduate degrees, black and Hispanic workers earned less than non-Hispanic white workers with the same, or often less, education.”
“Even when Blacks and Hispanics go the extra mile and earn professional degrees, their incomes still don’t break six figures. Whites and Asians, however, double their incomes by earning professional degrees, allowing them to make well over $100,000 a year.”
- Roy Eduardo Kokoyachuk, ThinkNow Research
It's really time the excuses and denial stopped. The problem is obvious.
