But in states like California, Maryland, Texas and Georgia, the Black middle-class has begun to encroach on the white middle-class.
to the Federal Reserve, the average Black household earns around half as much as the average white household, and owns only between 15% and 20% as much net wealth.
Unemployment rates for Black Americans have historically been twice the amount of white Americans, and the unemployment rate for Black Americans in the fourth quarter of 2022 was 5.5%, compared to the 2.9% rate for white Americans, according to"Segregation and poverty have created in the racial ghetto a destructive environment totally unknown to most white Americans," the 1968 Kerner Commission report stated.
After an increase in middle-class household wealth for Black families in 2000 and an even sharper increase for middle-class white families, both groups saw a decline in household wealth by 2008—but Black households were looking at an average of around $18,000 in wealth, while white households’ wealth was still significantly higher, averaging about $160,000 .
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