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Shocking Wealth Gap for Black, Hispanic, and White Women

Yowza.

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?

Filed under: race, wealth, women, , , , , , , ,

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RECENT PUBLICATIONS
» "Pinays," AGNI, Spring 2016
» "Dandy," Post Road, Spring 2015
» "Wrestlers," Fifth Wednesday, Spring 2014
» "Babies," Joyland, August 2011
» "Nicolette and Maribel," BostonNow, May 2007
» "The Rice Bowl," Memorious, March 2005
» "The Rules of the Game," Screaming Monkeys: Critiques of Asian American Images (Coffee House Press, June 2003)
» "Deaf Mute," Growing Up Filipino (Philippine American Literary House, April 2003)
» "Good Men ," Genre, April 2003
» "The Foley Artist," Drunken Boat, April 2002
» "Squatters," Take Out: Queer Writing from Asian Pacific America (Asian Am. Writers' Workshop, 2001)
» "Deaf Mute," The North American Review, Jan 2001
» "The First Lady of Our Filipino Nation," The Boston Phoenix, 1999
» "Paper Route," Flyway Literary Review, 1996
» "Brainy Smurf and the Council Bluffs Pride Parade," Generation Q (Alyson, 1996)
March 2017
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