For every dollar of wealth of white families, there is only sixteen cents for families of color. This wealth gap between races is staggering; for women, however the gap is even more shocking. Nearly half of all single black or Hispanic women have zero or negative wealth.
A new study released from the Insight Center for Community Economic Development to celebrate International Women’s Day shows that the median wealth for single black women is $100–in contrast to $41,000 for single white women.
Specifically, the study reveals that median wealth breaks down as follows:
- for single black women, only $100;
- for single Hispanic women, $120;
- and for single white women, just over $41,000
Democracy Now reports that “nearly half of all single black and Hispanic women have zero or negative wealth, meaning their debts exceed all of their assets.”
Another interesting comparison is drawn between these startling economic statistics and the billionaires on Forbes’ recent “rich” list. Of the 1,011 billionaires around the world, only 89 were women. How might we begin to address this inequity for women? Has the glass ceiling in corporate America reached the workplace, but not the pocketbook?