The inequity between households of color and their counterparts during the coronavirus pandemic is staggering—and it’s in part due to centuries of systemic racism that disadvantage these Americans at nearly every aspect of their bigger financial picture.
This is best illustrated by the racial wealth gap. For example, Black Americans receive lower earnings than their white counterparts; Black workers made 14.9% less than their white counterparts in 2019, according to the Economic Policy Institute’s (EPI) wage report. The report also found that Black and Latino workers are paid less at almost every education level, compared to their white counterparts.
Forbes
September 18, 2020
The Economic Policy Institute estimates roughly 6.2 million out-of-work Americans lost employer sponsored health care with their job. About 85% of laid off workers were able to access health insurance through other options, with Medicaid enrolling about 4 million new insures, but millions have fallen through the cracks and remain uninsured.
Courthouse News Service
September 18, 2020
“This drop in benefits will make it far harder in coming months to claw back the jobs lost during the pandemic,” Elise Gould, senior economist at the Economic Policy Institute, wrote in a note.
NBC News
September 18, 2020
That $17 trillion in 401(k) and IRA accounts is distributed unevenly, though, and isn’t doing enough to stave off a retirement crisis. In 2016 the average American family’s retirement savings was $120,809, but the median family’s savings was a paltry $7,800, according to the Economic Policy Institute. Families in the 90th percentile had $320,000 set aside. In other words, most of those trillions are held by people with the wherewithal and savvy to take advantage of the tax code even as nearly half of families have no retirement savings accounts. Social Security, a safety net for them, might have to slash promised benefits starting in 2035 or even sooner according to its actuaries.
Wall Street Journal
September 18, 2020
The Economic Policy Institute (EPI) published a report in August that indicated unionized workers earn on average 11.2 percent more in wages than non-unionized peers, meaning workers in the same industry and occupation with similar education and experience. The report authors also said unions help to reduce racial disparities in pay.
NTD
September 18, 2020
Las trabajadoras latinas llegaron a alcanzar en lo peor de la crisis un 20% de desempleo, le dice a BBC Mundo Elise Gould, investigadora del Economic Policy Institute.
BBC Mundo
September 18, 2020
Pay gaps may be even wider for people of color: for example, a 2019 analysis by the Economic Policy Institute found that, after controlling for age, gender, education and region, Black workers were paid 16.2% less than White workers.
HR Dive
September 18, 2020
As for health coverage, about 12-million people have lost coverage since March, according to the Economic Policy Institute.
WFTV
September 18, 2020
The inequity between households of color and their counterparts during the coronavirus pandemic is staggering—and it’s in part due to centuries of systemic racism that disadvantage these Americans at nearly every aspect of their bigger financial picture.
This is best illustrated by the racial wealth gap. For example, Black Americans receive lower earnings than their white counterparts; Black workers made 14.9% less than their white counterparts in 2019, according to the Economic Policy Institute’s (EPI) wage report. The report also found that Black and Latino workers are paid less at almost every education level, compared to their white counterparts.
Forbes
September 18, 2020