January 17, 2022
Black, white discrepancies worsen during the pandemic | Smart Change: Personal Finance | billingsgazette.com – Billings Gazette

Black, white discrepancies worsen during the pandemic | Smart Change: Personal Finance | billingsgazette.com – Billings Gazette

The coronavirus pandemic worsened the gulf that already existed between Black and white wealth in the United States, as Black households had to contend with more financial emergencies with less savings. Here’s an example, offered by the liberal Center for American Progress: In 2020, nearly 47% of unemployed white households did not have $400 for an emergency, compared to 65% of unemployed Black households. One result has been a growing gap in funds for education, business start-ups, housing, and retirement between Black and white families, according to the CAP report.

Source: https://billingsgazette.com/business/investment/personal-finance/black-white-discrepancies-worsen-during-the-pandemic/image_aaed69ec-a221-5ba7-88cb-41f71573e60b.html

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