Economic Mobility
The racial and ethnic wealth gap in the United States is staggering. The median net worth of a typical white family is nearly 10 times that of a Black family. In Pittsburgh, 36.4% of Black households and 21.7% of Latino households have 0% net worth, compared to just 11.5% of white households. Black and Latino households earn considerably less than white households, limiting their ability to save and build wealth. These inequities are the result of discriminatory policies and practices perpetuated over generations. Both programmatic and policy-level intervention are needed to build financial security and increase mobility for communities of color.
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