1. Blacks and Hispanics Hit Hardest by Recession
... only fell by 16 percent during that time (Eichler). In other terms, median wealth - assets minus debts - greatly differed for the three ethnic groups. Black households had $5,677 in wealth on average, Hispanic households had $6,325, and white households average $113,149 in wealth. Furthermore, unemployment rates for blacks and Hispanics rose at a faster pace than for whites, according to a study ... jobs," he said. "When construction jobs disappeared, they also were disproportionately hit" (Handley). Whites were not nearly as affected by the state of the housing market because they rely...
- Word Count: 551
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- Grade Level: Undergraduate