The Great Recession was hard on a lot of people. But it was especially devastating on minorities who have experienced far greater losses in terms of household wealth than whites did.

 

Experts at the Pew Research Center found that from 2005 to 2009, inflation-adjusted median wealth fell by 66% among Hispanic households and 53% among black households, compared with just 16% among white households.

 

As a result, the median wealth of white households is now 20 times that of black households and 18 times that of Hispanic households. In terms of actual dollars, the gulfs are quite stark: In 2009, a typical black household had just $5,677 in wealth (assets minus debts) and the typical Hispanic household had $6,325 in wealth—while the typical white household had $113,149.

 

The wealth gaps between whites and minorities are now the largest since the government began publishing such data about 25 years ago.

-Noel Brinkerhoff

 

Wealth Gaps Rise to Record Highs Between Whites, Blacks and Hispanics (by Rakesh Kochhar, Richard Fry and Paul Taylor, Pew Research Center)

Wealth Gap Widens Between Whites, Minorities, Report Says (by Peter Whoriskey, Washington Post)

Recession Study Finds Hispanics Hit the Hardest (by Sabrina Tavernise, New York Times)