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When it comes to financial stability, black Americans are often in much more precarious financial situations than white Americans. Their unemployment rate is higher, and so is the level of poverty within the black community. In 2013, the poverty rate among white Americans was 9.6 percent, among black Americans it was 27.2 percent. And the gap between the wealth of white families and black families has widened to its highest levels since 1989, according to a 2014 study by Pew Research Center.
Last edited by CaseyB; 01-19-2015 at 01:13 PM..
Reason: copyright
Blacks have had higher rates of unemployment than anyone else in the USA. Even when accounting for college majors, Blacks have higher rates of unemployment than Whites. And even Whites from single-parent households seem to do better than Blacks in the same situation. The divorce and single parent homes have been on the rise for the last 4 decades. However, Blacks have been affected by it worse than anyone else. Blacks had the highest rates of out-of-wedlock births and single parent homes going back to the 1950s, and poverty rates worse than everyone else aside from Native Americans.
As for precarious financial situations, the average Black middle class family has less wealth than the average poor White family.
What a coincidence!---I had just finished reading that article in The Atlantic before I scanned the topics in this forum.
To quote the article : "According to the Fed study, about 60 percent of black children whose parents had income that fell into the top 50 percent of the distribution saw their own income fall into the bottom half during adulthood. This type of downward slide was common for only 36 percent of white children."
True, the economic status of blacks in the USA largely lags behind whites. But what struck me also was that nearly 40 % of white children also slide to a lower socio-economic class than their upper middle-class parents.
What this indicates to me is that it is harder to become successful in this day and age than it was a generation or two ago.
It would be better if our tax structure rewarded two parent households helping keep families together. But why worry about the family when you get so much more money being a single parent.
It would be better if our tax structure rewarded two parent households helping keep families together. But why worry about the family when you get so much more money being a single parent.
I think most single-parents would gladly be in two parent households if the single parent could find a long-term mate.
Thanks for posting that link. It looks interesting.
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