1. Blacks and Hispanics Hit Hardest by Recession
... 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 by the Center for American Progress. At the same time, median family income ... the state of the housing market because they rely less on housing as an asset. In fact, the richest households garner much of their wealth from stock, while middle and lower cl...
- Word Count: 551
- Approx Pages: 2
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- Grade Level: Undergraduate