Wealth gap between whites and
minorities is growing, Pew says
White Wealth 13
Times Black Wealth
Above chart provided by Pew Research Center.
December 12, 2014
An unequal economic recovery has
helped create the largest wealth gap between minorities and whites in more than
a decade, a new report found.
The gap has grown, as white
Americans -- who are more likely to own stocks -- rode surging financial markets
to greater wealth, the Pew Research Center said Friday.
Meanwhile, minorities, hit harder
by the housing crash, saw their wealth decline between 2010 and 2013.
The median wealth of white
households was 13 times that of black households in 2013, Pew said, using data
from the Federal Reserve's Survey of Consumer Finances. That is the largest gap
since 1989 and compares to a gap of eight times in 2010.
White households had 10 times the
wealth of Latinos, the widest margin since 2001.
The median wealth of black
households fell nearly 34% from 2010, reaching $11,000 last year. Latino
household wealth dropped 14.3% to $13,700.
White households saw a gain.
Their median wealth rose 2.4% to $141,900.
The homeownership rate for whites
fell from 75.3% in 2010 to 73.9% in 2013. For minorities, it dropped from 50.6%
Mississippi Initiative Will Help America Solve Issues of Young Black Men and
On MLK Mentor Day
On Monday, January 19, 2015, more
than 50,000 young Black males in 200 cities will be mentored for survival and
success in America with a curriculum of Black Male Achievement.
They will be mentored by Black men
who will teach them to respect Black women and their elders, start their own
businesses and hire from their communities, become great fathers and good
husbands, encourage young Black boys to succeed in school, work among themselves
to build their communities, learn about Black male heroes, achievers and elders
who came before them, and to become compassionate, productive and contributing
Nine cities in Mississippi, under the
leadership of Cassio Batteast, will collaborate to mentor young Black men and
boys during their Black Male Achievement Weekend, including films on
Friday, workshops on Saturday, worship on Sunday and community service and
celebration on Monday, Dr. King's Birthday. Participating cities are Jackson,
Hattiesburg, Greenville, Indianola, Tunica, Canton, Meridian, Biloxi and
On Dr. Martin Luther King's Birthday,
Black men will work, in mass, to change the outcomes for Black boys and to help
America live into its creed of equality, fairness, opportunity and liberty for
all. These mentoring sessions will occur in schools, community centers, youth
centers, park districts, civic buildings, and in churches, temples, synagogues
and mosques. While we encourage government to participate and to support this
effort, but we cannot wait for government to lead or sanction this effort.
is a role for Black women and people of other races to play in this effort, but
the success or failure absolutely depends on the work of Black men.
Click Here to Hear Participants from
Georgia, Mississippi, New Jersey, Texas, Michigan and Illinois talk about MLK
Click Here for your school,
faith-organization, community or youth organization, college, fraternity, lodge,
prison, jail, detainment center or military unit to join this effort or call
773.285.9600 for more information or to
Out of the Box
Sometimes, you have to take organizing to the
streets. And few people in America do it better than Paul McKinley and Joseph
Watkins (seated above). Both men were formerly incarcerated and both men are
now at the forefront of achieving positive outcomes for their communities and
their constituents. On Saturday, December 13, 2014, Professor McKinley and
Professor Watkins taught innovative, effective techniques that bring policy
makers to the table and help them to make decisions that benefit the
Organizer Joseph Watkins, University of
Organizer Paul McKinley ran for U.S.
Click Here to see an example of the
work of Professor McKinley and Professor
More Chicago Public Schools grads are getting
college diplomas, though racial gap persist.
December 9, 2014
Back in 2006, Chicago researchers released a startling report on the
post-secondary success of CPS students. The study ultimately concluded that just
eight of every 100 high school freshmen would end up getting a college
The numbers were worse for black and Hispanic boys. Only 4 percent
obtained a degree.
Today, more CPS students are getting college degrees - 14 percent --
but the results are still unequal across race and gender, according to a new
study by the University of Chicago Consortium on Chicago Schools Research.
The difference is most stark when comparing the outcomes of boys of
color: While the rate of degree attainment remains in the single digits for
black boys, at 6 percent, the rate nearly tripled among Hispanic boys to 11
"These young black men have been failed by their parents, their
communities, their teachers, their elected officials," says Phillip Jackson,
executive director of the Black Star Project, a Chicago group that seeks to
eliminate the racial academic achievement gap. "We can't hold the colleges
responsible without holding the high schools and the elementary schools and the
entire community responsible."
The Consortium's report does not address why the rate of degree
attainment grew at such different levels between different demographics groups.
But senior research analyst Kaleen Healey says there are two key pieces to
consider when looking at whether you'll graduate from college: your high school
GPA and the college you attend. Black students tend to have lower GPAs, which
affects the type of college they have access to - often those with lower overall
graduation rates, she said.
Across racial groups, females continue to have higher degree
attainment rates than their male counterparts. And Hispanic girls have now
surpassed black girls.