The Wealth Gap in 2023

[jbrob]

Never-married Black women have 8 cents in wealth for every dollar held by White males

Charlene Crowell / May 10, 2024


Overall, women had only 68 cents in wealth for every dollar held by their male peers;

• When data was filtered by race/ethnicity, never-married Black women and never-married Hispanic women had 8 cents and 14 cents, respectively, of the wealth of White males;

• Never-married Black women, never-married Hispanic women, and never-married mothers of any race or ethnicity were the most financially stressed. They had very low levels of wealth to fall back on in an emergency, or to invest in financial stability and mobility; and

• Each of the never-married groups is in the bottom third of the wealth distribution for U.S. households.


www.peacemakeronline.com/columnists/never-married-black-women-have-8-cents-in-wealth-for-every-dollar-held-by-white-males/

[jbrob]

The median income of White men in 2023 increased more than all other groups, but IWPR found substantial wage gaps for Latinas and Black women. Weekly median wages for Black women dropped to 65.8 percent in 2023, down from the previous year’s 67.4 percent. Similarly, Latina wages fell from 2022’s 61.4 percent to 59.2 percent in 2023.

The highest-paying occupations – management, business, and finance positions – brought White men a median weekly income of $1,905, according to IWPR. But these same occupations paid Black men $1,488, and Black women earned even less at $1,287 per week.

By comparison, service occupations – paying less than other occupations such as sales, construction, and transportation – paid median full-time weekly wages of $917 to White men, and $749 to Black men. Black women and Latinas earned even less in these occupations, with Black women taking home median weekly wages of $654, and Latinas earning $646.

Even compared to workers of the same race or ethnicity, women continued to earn less as full-time workers. For every dollar a Black man earned, Black women earned 91.6 cents. Latinas earned even less, earning 87.4 cents for every dollar earned by a Latino man.