The gap between white and black household wealth is the highest since 1989
The wealth disparity of U.S. households has widened dramatically along racial and ethnic lines during the recovery from the economic recession, according to a new report.
In 2007, at the start of the recession, white households in the U.S. had a net worth 10 times that of black households. But in 2013, white households were 13 times richer, according to the Pew Research Report out Friday. White households were eight times richer than Hispanic households in 2007 but 10 times richer in 2013.
Researchers note that while wealth of non-Hispanic white households increased a small amount between 2010 and 2013—2.4%—the wealth of Hispanic and black households actually fell dramatically, 14% for Hispanic households and 34% for black households.
Other racial and ethnic minorities were not broken out for analysis in the data compiled by Pew.