Error Message Received.
When we receive an error message on our phone or computer, we immediately know that an intervention is required. It indicates that some parts of the normal system have failed. Data about the racial wealth gap in Atlanta and across our country is a clear error message that our community is not creating equal opportunities for all. Children should not be locked into a particular income bracket because of their zip code or their race, which are primary predicators for their futures.
We can change that in Greater Atlanta, but we must understand the history and the system first.
Wealth is more than just jobs. It includes annual median income, homeownership, access to a college education, access to workplace or self-employment retirement plans, and more. On nearly every measure, local racial wealth disparities are evident. This is true for traditional economic measures like banking, housing, employment, and other measures that have a direct impact on the ability of individuals and families to earn good income, build wealth, and maintain a safe and stable roof over their heads.
Armed with a new way of using data, we have the power to be the architects of a brighter future for children and families across Greater Atlanta. We can be advocates, supporters and resources for systems that support racial economic equity.
Occupational integration since 1960 was responsible for 60 percent of real wage growth (after accounting for inflation) for black women, 40 percent for white women, and 45 percent for black men.
What does the data tell us?
Racial wealth gaps exist across the country.
How Policymakers Can Ensure the COVID-19 Pandemic Doesn’t Widen the Racial Wealth Gap | Urban Institute
Income gaps exist in across Atlanta. Look at the data from Atlanta Wealth Building Initiative.
Homeownership gaps exist across Atlanta and nationwide
SOURCE: Trulia, Refin – referenced in Atlanta and Black Wealth Success for Many but Not for All
The COVID pandemic is exacerbating racial inequities.
See the data