Chicago’s racial wealth gap worse than national average

CHICAGO — A nonprofit wealth-constructing group says about sixty five % of African-American, Latino and Asian households in Chicago can be thrown into poverty inside three months if the breadwinner losses their job.

A report by Washington-based mostly Company for Enterprise Improvement asserts the divide between the incomes of white households and minority households is wider in Chicago than within the nation as an entire.

Dedrick Asante-Muhammad of CFED says the large divide is because of Chicago’s white households being wealthier than the nationwide common. He provides the town’s African-People are considerably much less rich than the nationwide common.

The median revenue of whites in Chicago is $70,960 in contrast with $fifty six,373 for Asians, $forty one,188 for Latinos and $30,303 for blacks.

Asante-Muhammad notes white households have recovered greater than minority households from the 2008-09 recession.

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