Economics

Attending College Doesn’t Close Racial Wage Gap, Says New Report

Published

8 years ago

February 7, 2017

By Kirsten West Savali, The Root

Since the first iteration of slavery transformed into its more contemporary forms—Jim Crow, mass incarceration, redlining, employment and education discrimination—the toxic myth that Black people can bootstrap their way to success and safety in a country that thrives on their subjugation has continued to thrive.

In a new report, “Asset Value of Whiteness,” Demos and the Institute on Assets and Social Policy take a deep dive into the intrinsic link between racism and capitalism; specifically, how whiteness infests the so-called American dream and renders it inaccessible to anyone who doesn’t meet the pre-selected criteria.

This is a truth that Black and brown people in this country have always known, but one that white people invested in the maintenance of white supremacy have willfully chosen to ignore.

“For centuries, white households enjoyed wealth-building opportunities that were systematically denied to people of color. Today our policies continue to impede efforts by African-American and Latino households to obtain equal access to economic security,” explains Amy Traub, associate director of policy and research at Demos and co-author of the report.

“When research shows that racial privilege now outweighs a fundamental key to economic mobility, like higher education, we must demand our policymakers acknowledge this problem and create policies that address structural inequity,” Traub continues.

A few key points from the “Asset Value of Whiteness”:

Attending college does not close the racial wealth gap. The median white adult who attended college has 7.2 times more wealth than the median Black adult who attended college and 3.9 times more wealth than the median Latino adult who attended college.

Raising kids in a two-parent household does not close the racial wealth gap. The median white single parent has 2.2 times more wealth than the median Black two-parent household and 1.9 times more wealth than the median Latino two-parent household. 

Working full time does not close the racial wealth gap. The median white household that includes a full-time worker has 7.6 times more wealth than the median Black household with a full-time worker. The median white household that includes a full-time worker also has 5.4 times more wealth than the median Latino household with a full-time worker.

Spending less does not close the racial wealth gap. The average white household spends 1.3 times more than the average Black household of the same income group.

According to the report, “On average, white households spent $13,700 per quarter, compared to $8,400 for Black households.”

“Equal achievements in key economic indicators, such as employment and education, do not lead to equal levels of wealth and financial security for households of color,” notes Thomas Shapiro, director of the Institute on Assets and Social Policy.

“White households have a leg up, while households of color face systematic barriers to growing wealth, reproducing our long-standing racial wealth gap over generations,” Shapiro continues.

“Without policies that combat ingrained wealth inequalities, the racial wealth gap that we see today will continue to persist.”

Oakland Post

Posts by Oakland Post

Up Next

RICHMOND: Lower Cost Housing Available; List Opens February 27

Don't Miss

San Francisco First US City to Make Community College Free

Oakland Post

Click to comment

Activism

Oakland Post: Week of December 25 – 31, 2024

The printed Weekly Edition of the Oakland Post: Week of December 25 – 31, 2024

Published

15 hours ago

December 26, 2024

Oakland Post

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Oakland Post

Posts by Oakland Post

Activism

2024 in Review: 7 Questions for Outgoing Stockton Mayor Kevin Lincoln

Lincoln’s decision to run for mayor stemmed from his love of people and his desire to serve his city. He prioritized resolving issues, including homelessness and public safety, among others. Lincoln, a Republican, will transition out of his role as mayor on Dec. 31, after an unsuccessful campaign to represent the 9th Congressional District.

Published

3 days ago

December 24, 2024

Oakland Post

Stockton Mayor Kevin Lincoln. Photo provided by California Black Media.

Kevin Lincoln, outgoing mayor of Stockton, CA, captured during his tenure as a leader dedicated to the city’s progress and community engagement.

By Edward Henderson
California Black Media

Born in Stockton, Mayor Kevin Lincoln says his Army upbringing inspired him to serve others.

Lincoln joined the United States Marine Corps in 2001 and was later assigned to Marine One, serving during President George W. Bush’s administration.

Following his military service, Lincoln worked for one of the nation’s top private security companies for eight years in Silicon Valley. In 2013, he resigned from his corporate position to give back to his community in Stockton through full-time ministry at a local church.

Lincoln’s decision to run for mayor stemmed from his love of people and his desire to serve his city. He prioritized resolving issues, including homelessness and public safety, among others.

Lincoln, a Republican, will transition out of his role as mayor on Dec. 31, after an unsuccessful campaign to represent the 9^th Congressional District.

Recently, California Black Media (CBM) spoke with Lincoln. He reflected on his accomplishments this year and his goals moving forward.

Responses have been edited for length and clarity.

Looking back at 2024, what stands out to you as your most important achievement and why? 

What I prioritize for our city council is our youth. They are the future — not only our city, but this region as a whole.

We were able to invest over $6 million in youth programming and workforce development, and partner with 14 different community-based organizations. We were able to employ over 600 young people through the city of Stockton. We launched even our first ever summer jobs program for the city of Stockton.

How did your leadership and investments contribute to improving the lives of Black Californians? 

It’s about giving people a seat at the table, and not necessarily waiting for people to come to me, but me going to the community, making myself accessible, meeting our community at the point of their need, where they’re at.

What frustrated you the most over the last year?

It’s politics. Because unfortunately, there’s politics in everything. And I say politics impedes progress. You can have a policy, a solution that may not necessarily be 100% perfect. But it’s a good solution for everybody. But because we allow politics to get in the way based off our personal ideologies, oftentimes we can miss opportunities to make an impact for the benefit of the whole.

What inspired you the most over the last year?

My biggest inspiration has been the community and our ability to work together. What’s unique about Stockton, one in 20 jobs are nonprofit jobs in the city of Stockton and even San Joaquin County.

What is one lesson you learned in 2024 that will inform your decision-making next year?

To stay focused. In politics, there’s a lot of opportunity for distractions. There are a lot of influences from the outside — good, bad and indifferent. It’s important to stay focused, have a clear vision, and be committed to that vision.

In one word, what is the biggest challenge Black Californians face?

Economics. When the economy is not healthy, when we’re not thriving, we’re limited. Opportunities are limited.

What is the goal you want to achieve most in 2025?

I just want to continue to be a servant leader and serve our community in whatever capacity I am in.