Seven Economic Facts About the U.S. Racial Wealth Gap
Darlene Booth-Bell (),
Kristen Broady and
Taylor Griffin ()
Additional contact information
Taylor Griffin: https://www.chicagofed.org/people/g/griffin-taylor
No WP 2022-32, Working Paper Series from Federal Reserve Bank of Chicago
Abstract:
Using data from the 2019 Survey of Consumer Finances and the U.S. Census Bureau, along with data and research from other sources, this paper presents seven economic facts about the racial wealth gap in the U.S. We present data on racial disparities in income, employment, homeownership, education, access to credit, and retirement savings – all factors that contribute to a significant and persistent gap in net worth between households of different races and ethnicities, particularly between Black households and White households. While none of the economic factors listed fully explains the racial wealth gap, each factor, along with a history of racism and discrimination has contributed to the extreme wealth inequality in America today.
Keywords: wealth inequality; income; education; credit (search for similar items in EconPapers)
JEL-codes: D31 D63 E24 I24 (search for similar items in EconPapers)
Pages: 16
Date: 2022-07
New Economics Papers: this item is included in nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
https://doi.org/10.21033/wp-2022-32 (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:fip:fedhwp:95178
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in Working Paper Series from Federal Reserve Bank of Chicago Contact information at EDIRC.
Bibliographic data for series maintained by Lauren Wiese ().