When it comes to the state of Black economics in America, we’re seeing some numbers that might make you think we’re living large, but hold up – we’ve got to dig deeper than the surface.
It’s looking real good on paper. Black unemployment? At a low 6.3%. Our prime-age employment? Hitting record highs at 78%. Median household income? Up nearly 30% since 2011. And our net worth? More than doubled since the Great Recession. Sounds like we’re balling, right?
We’re still playing catch-up in a game where the rules ain’t fair.
But pump the brakes, because here’s the tea: We’re still playing catch-up in a game where the rules aren’t fair. Sure, unemployment’s down, but it’s still 1.7 times higher than for our white counterparts. And that income gap? Still a whopping $30,000 difference. Let that sink in.
it’ll take 800 years…to close the wealth gap with white folks.
Now, let’s talk about wealth. $45,000 median net worth might sound nice, but it’s pocket change compared to what’s needed to hit that middle-class sweet spot. We’re talking $190,000 to $570,000 to really be comfortable. At this rate, it’ll take 800 years – yeah, you heard that right – to close the wealth gap with white folks.
So what’s the deal? Why are we still struggling when the numbers look good on paper? It’s because these gains, while real, ain’t enough to overcome generations of systemic inequality. We’re climbing the ladder, but someone keeps moving the top rungs.
As we roll into the 2024 election, we can’t let the politicians sweet-talk us with surface-level stats. We need real talk about real solutions. We’re talking quality education, affordable healthcare, housing that doesn’t break the bank, and jobs in our communities. And let’s not forget about those Baby Bonds – now that’s a game-changer for building generational wealth.
This election ain’t just about who’s in the White House. It’s about policies that can heal the deep wounds of racial and economic inequality. We need leaders who understand that a rising tide doesn’t lift all boats if some of us are still stuck in the harbor.
So, soulcitizens, stay woke and stay informed. These economic issues are our issues. When we vote, we’re not just picking a president – we’re choosing a future for our community. Let’s make sure it’s one where Black prosperity isn’t just a dream, but a reality we can touch, feel, and pass on to our kids.
Remember, our ancestors didn’t fight for us to settle for “better than before.” They fought for true equality and prosperity. So let’s honor their struggle by demanding nothing less than what we deserve – a fair shot at the American Dream, no asterisks, no footnotes.
It’s time to turn these record-breaking numbers into real, lasting change. Because at the end of the day, we’re not just looking for a seat at the table – we’re here to rebuild the whole damn house.
