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AFRICAN AMERICAN HOUSEHOLDS HAVE ONE TENTH THE NET WORTH OF WHITE HOUSEHOLDS
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| Date added: | 01/28/2009 |
| Date modified: | 04/28/2009 |
| Filesize: | 194.67 kB |
| Downloads: | 187 |
African American households have one tenth the NET WORTH of white households, according to a NATIONAL URBAN LEAGUE report. NET WORTH is defined as the actual worth of the assets of the family less all debt. The median net worth of African American verses white households has remained essentially unchanged for more than a decade. The ratio was nearly unchanged in the early 1990’s. According to Marc H. Morial, NATIONAL URBAN LEAGUE president, “…today’s civil rights battles are largely economic. In 2000, African American households on average were worth $6,166 compared to $67,000 for whites. The NATIONAL URBAN LEAGUE is calling on Congress to assemble a bipartisan commission on economic equality and advancement.