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The racial wage gap may be shrinking, but it's still got a ways to go. The median weekly earnings for full-time wage and salaried Black or African American 16-to-24-year-olds was $614. Though a smaller gap than the national one, that still works out to be about 82 cents to white workers' dollar. Children born in higher income and higher wealth families will have greater access to opportunities. Andre Perry Senior fellow at BrookingsThe resulting family wealth can hinder access to higher paying jobs as well.
Persons: it's, haven't, Andre Perry, Andre Perry Senior, Perry, Valerie Wilson Organizations: Nationwide, Department of Labor, Bureau of Labor Statistics, Brookings, Pew Research Center, BLS, Economic Policy Institute Locations: Brookings
Union wages, and the battles to keep them, have elevated the fortunes of countless Black families, Brooks said. “Black people could take advantage of that and buy homes in neighborhoods throughout Detroit,” Perry said. “Without the union jobs, (employers) can do anything, say anything and you're out the door,” she said. Only about 25% of Detroit's residents are in that range, and about two-thirds of city residents earn less than $50,000 per year, Goss said. Martin described her childhood during the 1970s and 1980s in her predominantly Black Detroit neighborhood as among the “happiest times” of her life.
Persons: WAYNE, Britney Johnson, Johnson's, , , Tracy Brooks, Johnson, Brooks, Bobbie Allen Sr, Allen, ” Brooks, Andre Perry, ” Perry, Mike Duggan, Anika Goss, Goss, Yolanda Martin, Martin, Tracy Hadden Loh, ” Martin, ” ___ Jefferson, Rhonda Shafner Organizations: Black, United Auto Workers, Ford, Union, General Motors, Ford Motor, Blacks, Brookings Metro, Brookings Institution, Daimler Chrysler, Fiat Chrysler, PSA Peugeot, Detroit Future, Chicago . Locations: Mich, Ford's Wayne, Texas, Michigan, Detroit, Stellantis, U.S, Chicago, Black Detroit, Rosedale, Grandmont, Novi, New York
People of colorThe student debt crisis is cited as a main factor for the wide racial wealth gap in the U.S. today. Black college graduates owe an average $7,400 more than their white peers, a Brookings Institution report found. And that inequity only gets worse with time: Black college students owe more than $52,000 four years after graduation, compared with around $28,000 for the average white college graduate. WomenWomen were widely recognized as the biggest winner of Biden's student loan forgiveness plan, since they owe two-thirds of the country's outstanding student debt. "Women will be the most affected if loan forgiveness fails," Kantrowitz said.
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