WASHINGTON (TND) — Things are looking up for the U.S. economy as inflation hits its lowest point in two years, but a new study shows not all Americans benefit equally when it comes to the country’s economics.
On average, White Americans have thousands of dollars more in wealth compared to Black Americans.
Data like this was the jumping off point for a WalletHub study on the state economies with the most racial equality. The organization compared several factors, including income, homeownership rates, and unemployment rates across all 50 states and Washington, D.C.
Wallethub found Alaska, Arizona and New Mexico to be the states with the most racial economic equality while the nation’s captiol was found to be the at the bottom of the list, the most unequal of all. Illinois, Iowa, Michigan and Montana also ranked very low in the score.
The experts behind the report allege the ongoing racial wealth gap stems from historic, systemic issues like Jim Crow laws and segregation policies like red lining. However, they also said that current discriminatory practices may be at play.
James White, a marketing and communications strategist, said some changes at the hiring level across industries will aid the move towards greater equality.
A more unique and diverse background at the these tables who are making decisions as far as who’s hiring for what role? I think that’s a huge step in the right role and a little bit more transparency,” he said.
WalletHub experts say policymakers should increase access to affordable housing and encourage entrepreneurship to help reduce economic racial disparities.
