Marketplace' Report: Black Economic Progress : NPR
Petra Todd:Economic Progress of African Americans in the 21st Century
MARKETPLACE for a kind of a report card on the economic progress of African-Americans. As a group, how have black Americans done, economically, in those years?
The black middle class has expanded, and for many African-Americans, the education gap that helps a middle class expand has closed or narrowed. But I suspect a lot of Americans would find the overall statistics discouraging.
Yes. The short answer is yes, but again, there's a significant hitch. One group that has fully closed the wage gap is college-educated black women. They earn as much as college-educated white women now. And a new reports says that all working black women, including those who are aren't college educated, are earning about 88 percent of what white women earn. That's as of the year 2000, and that's up from 82 percent shortly after Dr. King died.
For men, it's not so good. The report says black men were recently earning 70 percent of what white men earn, and that's up from 60 percent in 1970. But the problem there, is that the statistic measures what working men earn, and that doesn't count that black male unemployment and incarceration are both way up since 1970. So here's researcher Petra Todd from the University of Pennsylvania.
The Urban League says the average net worth of African-American families is just over $6,000. that's about a tenth the average net worth of white families. Black home ownership is up, and that's an encouraging future wealth indicator, but it's still only 70 percent the rate of white home ownership.
African-American families made big economic strides during the '60s and '70s, but since then, their relative lack of education has hurt, because the kinds of jobs that African-Americans tend to hold are those that are most impacted by stagnating wages and by the global premium on skills. So some progress, yes, but some backsliding, as well.