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Progress and Continuing Disparities

Population Trends and Policies. Race and Ethnicity. Progress and Continuing Disparities. Measuring Race. Population Trends and Policies. Population Trends and Policies. Unemployment. Population Trends and Policies. Unemployment.

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Progress and Continuing Disparities

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  1. Population Trends and Policies Race and Ethnicity Progress and Continuing Disparities

  2. Measuring Race Population Trends and Policies

  3. Population Trends and Policies Unemployment

  4. Population Trends and Policies Unemployment • In 2000 the African American unemployment rate reached a historic low of 7.1%. It has been 9.9% or higher since January 2002. • Latino / Hispanic unemployment rates also dropped from 8.0% in 1988 to 5.7% in 2000, but rose again. Source: Betsy Leondar-Wright, Meizhu Lui, Gloribell Mota, Dedrick Muhammad, and Mara Voukydis (2005). State of the Dream 2005: Disowned in the Ownership Society. Boston: United for a Fair Economy.

  5. Population Trends and Policies Income

  6. Population Trends and Policies Median Family Income by Race 1980-2000 White Black Black-white Difference

  7. Population Trends and Policies Black-White Difference in MFI by Family Type 1980-2000 Married Female-headed

  8. Population Trends and Policies Income • About half of the progress in the median income of people of color from 1996 to 2000 was wiped out in the following three years. • After slowly increasing from 55% of white income in 1988 to 65% in 2000, Black median income fell again to 62% in 2003. • In 2004 for the first time in 15 years, the average Latino household had an income that is less than two-thirds that of the average white household. Source: Betsy Leondar-Wright, Meizhu Lui, Gloribell Mota, Dedrick Muhammad, and Mara Voukydis (2005). State of the Dream 2005: Disowned in the Ownership Society. Boston: United for a Fair Economy.

  9. Population Trends and Policies Income • The median income of black families as a percentage of non-Hispanic white median family income was about the same in 1997 as in 1967, at less than 60 percent. • Hispanic median family income has fallen in absolute terms (and relative to that of non-Hispanic whites) since 1972, in part due to the increasing representation of immigrants in the Hispanic population. • The median family income of Japanese Americans exceedsthat of non-Hispanic white families • The income of Cambodian American families is lower than that of black families. • The median family income of American Indians was lower than that of blacks.

  10. Population Trends and Policies Poverty

  11. Population Trends and Policies Poverty

  12. Population Trends and Policies Poverty • Throughout the 1990s, poverty rates fell across the board, declining fastest for African Americans and Latinos. • But since 2000, more than one third of that progress in reducing poverty among African-American families has been erased, as 300,000 African-American families fell below the poverty line from 2000 to 2003. Source: Betsy Leondar-Wright, Meizhu Lui, Gloribell Mota, Dedrick Muhammad, and Mara Voukydis (2005). State of the Dream 2005: Disowned in the Ownership Society. Boston: United for a Fair Economy.

  13. Population Trends and Policies Education

  14. Population Trends and Policies Education

  15. Population Trends and Policies Education

  16. Population Trends and Policies Wealth

  17. Population Trends and Policies Wealth

  18. Population Trends and Policies Wealth

  19. Population Trends and Policies Wealth • Although progress has been made in other areas like education, home ownership, and income, the black/white difference in wealth has changed very little since the 1960s. • Comparing families with the same income levels, the net worth of white families on average is two times larger than that of black families. • The black/white difference in net worth cannot be explained by other factors, like education, earnings rates, savings rates. • The black/white difference in net worth is almost completely a function of differences in home equity. • However, or black households’ nearly half of their net worth was comprised of home equity, while the comparable figure for whites was just one quarter.

  20. Population Trends and Policies Homeownership

  21. Population Trends and Policies Homeownership

  22. Population Trends and Policies Homeownership

  23. Population Trends and Policies Homeownership

  24. Population Trends and Policies Homeownership

  25. Population Trends and Policies Subprime Loans • The total loss of wealth for people of color is estimated to be between $164 billion and $213 billion for subprime loans taken during the past eight years. • This probably represents the greatest loss of wealth for people of color in US history. • Spillover effect of the subprime crisis affects whole communities negatively, in terms of abandoned houses, increased crime, devaluation of neighboring houses, and erosion of the tax base, causing revenue shortfalls that mandate service cuts. Source: Amaad Rivera, Brenda Cotto-Escalera, Anisha Desai, Jeannette Huezo, Dedrick Muhammad (2008). Foreclosed: State of the Dream 2008. Boston: United for a Fair Economy.

  26. Population Trends and Policies Inheritance

  27. Population Trends and Policies Inheritance • Whites are more likely than people of color to have parents who give them assets. • In interviewing Black and white families for his book,The Hidden Costs of Being African American, Thomas Shapiro found that 28% of white families receive inheritances, while only 7.7% of Black families do. The sizes of the inheritances • are also widely divergent: in Shapiro’s survey, the parental median net worth for black families was $47,000, compared to $198,700 for white families. • About one-third of baby boomer whites in 1989 were due to receive future inheritances worth more than $34,000, while fewer than one in twenty Blacks would receive a similar endowment.

  28. Population Trends and Policies Down Payment Assistance • Half of white families, but only one fifth of Black families, have parents who can help them buy a home. • According to the Federal Reserve, the average inheritance plus financial gifts given to a white family in 2001 was $20,685, which is enough for a down payment. • That’s ten times more than the mean African American legacy of about $2,000. Latinos passed on only $385 to their children.

  29. Population Trends and Policies Retirement

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