1. Blacks and Hispanics Hit Hardest by Recession
... 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 was declining faster for ... downturn because they were more exposed to the bubble simply because of the geography, partly because they actually followed the housing bubble for construction jobs," he said. "Wh...
- Word Count: 551
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- Grade Level: Undergraduate