Wealth gap continues to increase

The New York Times (Dec. 13, 2014) citing a Pew Research Center report, noted that the wealth gap between minorities and whites continued even in the midst of an economic recovery.

According to the report, which analyzed data from the Survey of Consumer Finances from the Federal Reserve, the median net worth of white households in 2013 was $141,900, about 13 times that of black households at $11,000. For Hispanics too the gap is relatively large. In 2007, the median net worth of a Hispanic household was $23,600, and in 2013 it was $13,700.

For the entire NY Times report, click here.

For the Pew Research Center statistics, click here.