The Policy Times takes a look at statistics which breaks down why African Americans have not prospered in America:
- 5% of African Americans were unemployed in 2017, compared to 6.7% in 1968 which is almost double the unemployment rate of white people.
- Black homeownership remains at just over 40% which is a sign of analyzing wealth. According to such data, African Americans are still vastly in the Working and Middle Class.
- African Americans have a high share of incarceration rate which is 6.4 times more likely than white. This problem of being jailed is a sign of major racism.
- Wealth gap between White Americans and Black Americans has more than trpled in the past 50 years. Median Wealth of white families is $171,000 which is 10 times that of a black family.
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Racial Inequality is a major disadvantage that African Americans face right from being born to the day they die. Even though, education has improved amongst Black American lives, the economical conditions for them have not improved significantly. Today, more than 90% of African Americans have a high school diploma compared to 54% back in 1968.
The rough statistics point out that African Americans earn 82.5 cents to every dollar by the typical white worker.
“We would have expected to see much more of a narrowing of the gap, given the big increase in educational attainment among African Americans,” John Schmitt, an economist and vice president of the Economic Policy Institute said.
An important observation was that the banking industry discriminates too. Only 6% of mortgages were given to African Americans when they make 13% of the population. This is a sign that an independent group should keep an eye out for discriminations against the African Americans from the public sector and the financial sectors.
