Wednesday, July 13, 2016

Black American Income

The economic struggle for Black Americans continues to be like trying to scale a very slippery slope. Often it involves taking two steps forward only to subsequently find yourself falling three steps back. - JD

Black Median Household income: $35,481
(all races $53,657)
All Black Workers 2015 weekly earnings:$624
(all races $803)
Black Men weekly earnings: $652
(All men $889)
Black Women weekly earnings: $608
(All women $721)

SOURCE: 2015 3rd Quarter: Bureau of Labor Statistics – 16 Years or Older & 2014 Census Bureau American Community Survey.

During the 1990s African American income grew tremendously. By 2000, 56% of African American households had an annual income of $35K or more compared to just 36% in 1969. However due to the recession that number dropped to just 51% by 2014 reversing much of these gains. The most dramatic change during the most recent recession was the percentage of Black households making under $15K (from 19% in 2000 to 24% in 2010) which was well below the poverty line for families.

Although incomes for African Americans have improved significantly since the Civil Rights era, they are still lower than the national average. For example the median income for Black families is $20 thousand a year less than the national median income. As you can see from the chart labeled Family Income 2010 that Black married-couple families make more than twice that of Female householder families. This charts also proves that there is a substantial benefit for those in a married-couple family regardless of race or ethnicity.

Wages by Education

Income in the Black or African American Median Income may have decreased due to the increase in unemployment in 2010.  Another indication is the correlation between education and wages.  There are many educated African Americans in the work force, however, the numbers begin to lower from High School educated persons to Masters educated persons. There is less compensation overall among African Americans which, of course, affects the median income.