1. Blacks and Hispanics Hit Hardest by Recession
... declined by 53 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 for the minority groups than ...
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- Grade Level: Undergraduate