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Day 6 - The Wealth Gap.
Today, we take a deep dive into the growing wealth gap between people of color and their white counterparts. We will look at the wealth gaps that exist between whites and all other groups of people in the US. After learning about the existing gaps, we will research ways to shrink the gaps and to actively generate wealth within the black community.
Before we dive in, let's take a look at the connection between discriminatory housing policies and the wealth gap in the US.
Did you know that the net worth of a typical white family is nearly ten times greater than that of a Black family? Learn more about this growing gap and the distribution of wealth in the US here.
While the gap between white and black families is notably the largest wealth gap that exists, wealth gaps exist between white males and nearly all other groups of people in the US, including women, people of the Latinx community, and other non-white groups. To learn more about the gap that exists between races, genders, and ethnicities in the US, explore these 9 charts about wealth inequality in America.
The wealth gap exists largely because of systemic segregation within housing. Many recent reports suggest that segregation is on the decline, but it's important to look beyond the headlines and examine the data. Take a look at segregation mapped by where people live and work in this short video to see that while there appears to be less segregation in the workplace, there is still a significant amount of work to be done.
Recognizing the inequities within the wage gap is just the first step! We must take action and actively work to close the wage gap. Here are some resources on how to narrow the racial wealth gap and how to actively generate wealth.
After you engage with the challenge materials on the wage gap, share something you can do, or have already been doing, to narrow the racial wealth gap. Don’t forget to share your favorite black-owned businesses so we can support them too! You can share your responses with us @LWScienceHealth on Instagram.
A donation will be made to one of the black-owned businesses shared with the LWSH community!
Want to dive deeper into the material? Links to all materials can be found at tinyurl.com/LWSHChallenge.
