Protests underscore worsening racial wealth gaps: “Justifiable anger” – CBS News

Protests underscore worsening racial wealth gaps: “Justifiable anger” – CBS News

Until last week, Minneapolis was known as one of the country’s most livable cities, lauded for its multiculturalism and vibrant neighborhoods. But the nationwide protests that have followed George Floyd’s death at the hands of a Minneapolis police officer are also drawing attention to the stark socioeconomic differences between black and white Americans.

Despite its progressive image, Minneapolis struggles with some of the nation’s greatest racial inequities, including wide gaps in wealth and income that effectively exclude many of its black residents from the city’s prosperity. 

Although the average Minneapolis household earns almost $64,000, for example, blacks on average earn less than half what white households do. By that measure alone, Minneapolis is one of the most unequal cities in America. But black residents are also one-third as likely to own their homes as whites, and the jobless rate for blacks in the Twin Cities has long hovered well above that for white workers.

“All that systemic racism that people of color have
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Black corporate, nonprofit leaders say protests point to America's racial wealth gap, offer solutions - CNBC

Black corporate, nonprofit leaders say protests point to America's racial wealth gap, offer solutions - CNBC

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