African-American women own significantly less wealth than any other social demographic, according to a report by the Insight Center for Community Economic Development. While white women ages 36 to 49 have a median wealth of $42,600, single women of color in the same age bracket have a median wealth of only $5. Wealth gaps of this magnitude can be explained by some general social factors, but one important cause, researchers say, is government policies that keep black women disadvantaged and unable to create and sustain wealth for themselves and their families.
$100
Median wealth for single African-American women. For Latina women, it’s $120.
Median wealth for single African-American women. For Latina women, it’s $120.
$41,500
Median wealth for single white women. Median wealth for single white men is $60,350.
Median wealth for single white women. Median wealth for single white men is $60,350.
$7,900
Median wealth for single African-American men. For Latino men, it’s $9,730.
Median wealth for single African-American men. For Latino men, it’s $9,730.
91.7%
Percentage of white women over 65 who receive income from Social Security. For African-American women, it’s 83.5%; for Latinas, it’s 76.1%; and it’s 66.5% for Asian-American women.
Percentage of white women over 65 who receive income from Social Security. For African-American women, it’s 83.5%; for Latinas, it’s 76.1%; and it’s 66.5% for Asian-American women.
46%
Percentage of households headed by African-American single women, age 18-64, that had zero or negative wealth in 2007.
Percentage of households headed by African-American single women, age 18-64, that had zero or negative wealth in 2007.
Source: “Lifting as We Climb” (The Insight Center for Community Economic Development, March 2010).
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