1. Blacks and Hispanics Hit Hardest by Recession
... percent. However, the wealth of white households 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 by the Center for American Progress. At the same time, median family income was declining faster ... followed the housing bubble for construc...
- Word Count: 551
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- Grade Level: Undergraduate