MediaTakeOut.com just got its hands on a NEW REPORT created by the non-profit think tank The Insight Center for Community Economic Development. And it showed the DIRE need for increased wealth building – especially for Black Women!!
Here is an excerpt:
Excluding vehicles, [working age] single black women have a median wealth of $100 and Hispanic women $120 respectively, while their same-race male counterparts have $7,900 and $9,730. The median wealth of single white women is $41,500. To put it another way, single black and Hispanic women have one penny of wealth for every dollar of wealth owned by their male counterparts and a tiny fraction of a penny for every dollar of
wealth owned by white women.
With so little in reserve, half of all single black and Hispanic women could not afford to take an unpaid sick day or to even have a major appliance repaired without going into debt.
But it gets worse, the same article finds that for ALL single Black women, the average net worth drops to only $5.
This is a very sad article to see. Check out the below charts too . . . which show that single Black men tend to fare far BETTER than women. The biggest difference . . . the financial burden of child care falls DISPROPORTIONATELY on mothers.
STATISICS, STATISTICS.... Hated it in school, and even now as a grown ass man as my man Ced the Entertainer would say. My biggest problem with statistics is the generalities that it produces. Numbers dont lie, we know, but the research can be slanted you understand. You can make a general statement about the evidence that you looked for. This new study is very disheartening, and as a matter of fact I dont even that diction suffices. its outrageous. As a black man, I would like to go on record and say that our sisters, cousins, wives, aunts, nieces, mothers, etc are ON THE COME UP..This report that says $5 Bahumbug..lol...But seriously, give credit where credit is due. Black Women have always been, (just check my momma's resume..Hi mom!) and will ALWAYS be on there job. No disrespect to any other race but had to stand up for the one I know so well.
I hope somebody jumps on this with a comment cause I know I'm not the only one that takes issue with this nonsense.
3 comments:
reading this makes me sick to my stomach like seriously i havent been working and bills are paid so imagine if i was working i can afford to take an unpaid sick day. it's these lazy mother out here that give us hard working mothers a bad name. They get these numbers from the ghetto but plz belive that there are hard working mothers that can afford to do anything any working mother can do!
Bas,
You couldnt have said it better, those statistics are preposterous and absurb. I've been blessed to come from a line of very strong successful black woman. Moreover, I run with a group of females that are intelligent, driven and motivated.. and as most would say "have their ishhh" together. Child care or not, we handle our business. We aren't behind in the race, we are running side by side, if not taking the lead. I run with Lawyers, Nurses, Grant Writers and Entrepreneurs. I think they need to check their numbers again. I dont get mad at falsly reported data, I embrace them. It only makes me as a young, strong black woman, work even harder.
Thanks for the heads up tho.
Promise
I hate to be the one to go against the grain but this is a very touchy subject. Yes black women are doing much better but at the same time there are alot of black and hispanic women caught in a runt and continuing to live in the same economic situations there mothers did. So the stats seems far fetched and sad, I see it to be believable for the most part. maybe the numbers are not exactly right.We are still behind and am speaking as the whole.... majority rules.
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