Chart Of The Day

Wealth Gap

Josh Marshall highlights a depressing one:

The chart illustrates a pattern that most of us probably do not find surprising. But the sheer chasm separating single white men from Black and Hispanic single women is still shocking to see visualized so clearly. Single white men have 438 times the assets as single Black women and 365 times that of single Hispanic women. As we can see, marriage is a huge determinant of wealth – but mainly if you’re not white, and especially if you’re a woman.

Note that the chart provides data for wealth with and without vehicles (in most cases, cars). Here I’ve referenced the latter statistic. As the report notes, owning a car is an important way to access more employment opportunities among other things. But that wealth is not easily accessible in dollar terms, which is highly relevant for the following reason. Great disparities of wealth not only have a huge impact on life opportunities and the prospects for wealth accumulation. They are hugely important factor in the precariousness of economic life experienced by different demographic groups.