According to new research published by the Pew Research Center, based on the Survey of Consumer Finances data, wealth inequality in America has widened along racial and ethnic lines.
The gap between white and Hispanic median wealth is larger than it was in 2001, with the median white household owning 10.3 times the wealth of the median Hispanic household. This gap is significantly larger than it was at the beginning of the recession in 2007, when white households owned 8.2 times more than Hispanic households.
The gap between white households and black households also grew. The median white household now owns 13 times that of the median black household, up from 10 times as much in 2007 and even larger still than in 1983, when it was only 8 times as much.
While the data shows that white households have had a better recovery than both black and Hispanic households, there remains the common trend that every group’s median wealth is still below pre-recession levels.
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