By: Economic & Finance Report
With the national protests occurring in the United States. There has long been an issue about the income inequality among minorities and investment inequalities among minorities, especially African Americans.
Analytics and data collected from The Federal Reserve indicate that over 60% of white families have stock share holdings while only 30% of black families have stock holdings. Indicated is that only a third of African American families are seeing the benefits from the stock market rally, currently occurring.
The wealth gap between minorities and white families is also very wide. Median white family net worth is $171,000 while African American family median net worth is approx $18,000. These wealth gaps tend to have economical effect on minority and black families as they are not given a fighting chance to improve financially and economically amongst their counterparts. -SB
Source: Yahoo Finance; Federal Reserve Survey Consumer Finances (2016); Image Source: Vox.com