The wealth gap between races is wide and growing
The wealth gap was bad before the recession, but now it's even worse. A new study by the Urban Institute shows that, on average, non-Hispanic white families "were about four times as wealthy as nonwhite families, according to the Urban Institute’s analysis of Federal Reserve data. By 2010, whites were about six times as wealthy." Experts say the continued and growing wealth gap will make it that much harder for future generations of American minorities to advance and prosper. A disturbing thought when you consider the country is moving closer and closer to a majority minority.
WASHINGTON - Millions of Americans suffered a loss of wealth during the recession and the sluggish recovery that followed. But the last half-decade has proved far worse for black and Hispanic families than for white families, starkly widening the already large gulf in wealth between white Americans and most minority groups, according to a new study from the Urban Institute.