The unequal distribution of wealth among single women of color

In a new report by the Insight Center of Economic and Community Development we find out some staggering statistics. Black and Latino women in the United States are earning far less than their single white female peers. The annual median wealth of a Black women was $100 dollars and female Latino women had a median wealth of 120$. In contrast the annual median wealth of a single white woman was 41,500 dollars. This is not a slight difference, but one showing substantial inequality in income and assets. The report concluded that about half of Black and Latino women had negative wealth, indicating that their debts were more than their assets. The growing problem of debt among Americans is growing, especially among minorities, and this study highlights that problem even more. This study indicates what could be serious setback to the future generations of minorities in this country. There seems to be a serious problem in the disruption of wealth among races and gender, which is inhibiting the prospect of racial equality in the United States. This study comes as and argument for more social programs that directly help benefit minority groups who are not getting the same opportunities to increase wealth as their white counterparts. Affirmative Action and other similar programs are always being argued, but I personally can’t see how these programs could not be addressed. It is apparent that this inequality among races is only going to further damage the status of minorities in the United States and slow the economy as a whole. It is imperative to do something about this and do something now!!!