Black unemployment reached a record low of 4.7% in April 2023 and real wages – earnings adjusted for inflation – have risen. Between 2019 and 2022, the last two years of the Trump administration and the first two years of the Biden administration, real wage growth grew the most for workers in the bottom 10th-percentile, according to a March 2023 report from the Economic Policy Institute, a left-leaning think tank.
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Valerie Wilson, the director of the Economic Policy Institute’s Program on Race, Ethnicity and the Economy, said part of voters’ dissatisfaction with the economy may come from sticker shock over high prices.
But those feelings, particularly in the Black community, may also be a response to long-standing racial disparities.
“Inequality isn’t a new thing, it hasn’t gone away,” Wilson said.