The racial wealth and equity gaps show no signs of subsiding in America, according to a new Economic Policy Institute report. We spoke to its author.
A new report shows 60 years after the March on Washington for Jobs and Freedom, economic disparities continue to plague Black America due to a lack of legislation in the post-civil rights era.
The Economic Policy Institute, in its report, notes that gaps in home ownership, wealth and wages continue to keep one of the march’s goals — economic justice — out of reach for many Black people.
The barriers to economic equity include “occupational segregation, discrimination, hiring and pay inequity, equitable pathways to promotion, a stagnant minimum wage and falling union coverage,” Adewale A. Maye, policy analyst in the institute’s program on race, ethnicity and the economy, told theGrio.
“Some of the things that were advocated for in 1963, we’re still asking for in 2023,” Maye maintained.
Maye authored the report titled “Chasing the Dream of Equity: How policy has shaped racial, economic disparities.” His report found:
Black unemployment remains persistently high. Over the last 50 years, the jobless rate of Black workers often exceeded 10%, while the white unemployment rate has never reached those heights.
The racial wealth gap remains stubbornly disproportionate, as white families have, on average, eight times more wealth than Black families.
Federal legislation hasn’t addressed areas that could help improve the financial...
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