Women of all races bring home less income and own fewer assets, on average, than men of the same race, but for single black women the disparities are so overwhelmingly great that even in their prime working years their median wealth amounts to only $5.
In a groundbreaking report released Monday by a leading economic research group, social scientists turned a spotlight on the grave financial challenges facing an often overlooked group of women, many of whom could not take an unpaid sick day or repair a major appliance without going into debt.
Full Article —> Study finds median wealth for single black women at $5.
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I’m not surprised by this study at all. Even before the recession hit many single Black women that I know were barely making it paycheck to paycheck. Between rent, student loans, helping family members and other basic necessities, saying money was tight would be an understatement.
After the recession hit there have been reductions in hours and layoffs while prices seem to have gone up. People are getting evicted and some are even moving in with family members just to get by.
Also, the study say median. On paper, I know many who have a negative net worth. Sad but true.
Is this study also true for women in Harlem? Ladies, how do you stand financially?
