Wednesday, March 29, 2006

Gaps between Blacks and Whites persist

African-Americans are losing ground economically compared to their white counterparts, says the new State of Black America 2006 report from the National Urban League.

Comparing factors such as income, unemployment, home ownership, business ownership, median net worth, poverty rates, the report concludes that the economic status of African-Americans is 56% that of white Americans, one percent worse than in 2005. The findings include:
• Unemployment remains twice as high for blacks (10%) as for whites (4.4%).

• The median net worth of the average African-American family is 10 times less at $6,166 than the average White family at $67,000.

• Blacks own nearly 50% of their homes, while whites own more than 70%, and the mortgage denial and home improvement financing denial rates for Africans-Americans is twice that of white Americans.
The report also measures social justice, education, health and quality of life, and civic engagement.

Read more here.


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