Candidly’s Post

"...Black people — when we eat, everyone eats. Thanks to structural racism, the average Black person earns less, has less wealth, is less likely to own a car or a home, less likely to be able to afford their energy bills, more likely to be disabled, and more likely to be unemployed than the average white person." Rhianna Gunn-Wright makes this powerful statement as she writes about how the green transition is leaving many Black people behind. https://lnkd.in/e4aGbnMB Once more, we see another manifestation of the structural nature of racism, and it accounts for our approach at Medici Road to connect the dots among seemingly distinct fields like public health, education and housing. The fact remains that these issues cannot be tackled in silos. We must always connect the dots. #racism #racialequity #connectingthedots #structuralracism

New Pew Report: “While many Black Americans view themselves as at least somewhat successful and are optimistic about their financial future, previous work by Pew Research Center also finds most believe U.S. institutions fall short when it comes to treating Black people fairly. A new analysis suggests that many Black Americans believe the racial bias in U.S. institutions is not merely a matter of passive negligence; it is the result of intentional design. Specifically, large majorities describe the prison (74%), political (67%) and economic (65%) systems in the U.S., among others, as having been designed to hold Black people back, either a great deal or a fair amount. Black Americans’ mistrust of U.S. institutions is informed by history, from slavery to the implementation of Jim Crow laws in the South, to the rise of mass incarceration and more.” Pew Research Center https://lnkd.in/gNYQPmHt

We continue to see profound racial economic inequality in the United States. Black Americans are less likely to start small businesses and see them thrive; the unemployment rate for Black Americans is consistently higher than that for white Americans; and the wealth gap remains huge, as the typical Black household has just 10% of the wealth of the typical white household, a disparity that amounts to an astonishing wealth differential of $10.6 trillion. Despite this daunting reality, financial regulatory agencies can take action to combat this injustice. The CFPB stands out as a beacon of hope and an example of what strong leadership can do to advance the causes of racial justice, equity, and inclusion in the financial marketplace. Under Director Rohit Chopra’s leadership, the Consumer Financial Protection Bureau has made new strides and steady progress towards a more fair and racially equitable financial system During the Biden Administration, the #CFPB has lived up to its promise by intensifying its efforts to address racial justice issues. Our new fact sheet outlines the important steps the #CFPB is taking to combat racial economic inequality and how the agency can do even more. https://lnkd.in/eG9TsQKa

The wealth gap for Black Americans is felt throughout the year but this recent study has a different spin to it. It would take nearly three centuries for Black Americans to achieve the same quality of life as their White neighbors. Per a study by McKinsey., they outlined how the gap looks different in certain markets. They state that how the gap felt different in different places in the country. In the same way, you could have the specs of a home in Louisiana could look different in California. Almost like how the wealth gap looks in depreciation or appreciation of value for Black Americans within different areas of the country. Only 48% of US counties reduced the racial gap in the past decade, no US county with a significant Black population has achieved parity, and the 37 that are close to it house just 0.1% of the total Black population. I always say that within articles and stories that tells the story of the situation, they should offer up solutions. Well, in this study they gave the following solutions to the wealth gap — affordable housing in mixed-income neighborhoods, health insurance for US residents without coverage, and the expansion of high-quality early childhood education programs. Those are solutions that would benefit all US Citizens, yet don't address the wealth gap experienced by Black Americans. Here are some other specific solutions: - Restructure systematic banking practice that prevents Black Americans, improved lending practices — redlining, land restrictions, etc. - Investing in communities — housing, financial literacy, business development, etc. - Address systematic issues with clear solutions, not just to report but to rectify. - Expand social safety: improve programs like the Earned Income Tax Credit and Child Tax Credit, UBI pilots to provide direct financial support and incentivize development. - Funding for HBCUs at the state and national levels. Even through our accomplishments, there's an opportunity gap that we've experienced time over time even with acknowledgment of it being there. It's one thing to hear something is urgent but it's another to urgently put action into place. Question — do you feel that the wealth gap will widen even more with elements like inflation in the situation? #wealthgap #economy #blackhistorymonth

📊 Not-so-fun fact: Today’s median annual wage for Black workers is approximately 30%, or $10,000, lower than that of white workers. The racial wealth gap is evident, with the average white family's wealth eight times higher than that of an average Black family (McKinsey Global Institute). In our latest blog, we delve into the pressing issue of the racial wealth gap that persists today. 💻 We've outlined five empowering strategies for the Black community to build wealth, including the importance of generational wealth. Join the conversation and take a step towards economic empowerment. Read the blog now and have a great weekend! 🌟 #BlackCommunity #WealthBuilding #EconomicEmpowerment #GenerationalWealth #FinancialEquality

These are the largest Black-owned businesses in America - https://lnkd.in/gziV_KAN - The Pew Research Center survey indicates that a significant portion of Black adults view supporting Black-owned businesses as an effective strategy for advancing equality. This underscores the role that economic empowerment and entrepreneurship can play in addressing systemic inequalities. Despite the growth in the number of Black-owned businesses, there remains a

These are the largest Black-owned businesses in America - https://lnkd.in/gvTknr53 - The Pew Research Center survey indicates that a significant portion of Black adults view supporting Black-owned businesses as an effective strategy for advancing equality. This underscores the role that economic empowerment and entrepreneurship can play in addressing systemic inequalities. Despite the growth in the number of Black-owned businesses, there remains a

Last night's debate was a missed opportunity to discuss systemic inequality and job creation, especially at a time when diversity, equity, and inclusion initiatives are under attack. In the coming months, I hope to hear more about how our nation plans to create a more inclusive workforce. In the meantime, I remain committed to the everyday work at HBCU 20x20 | The Application that ensures Black individuals are prepared and connected to diverse career pathways, beyond stereotypical expectations. What are your thoughts on former President Trump's "Black jobs," comment? https://lnkd.in/epkhPN6X

The wealth disparity between Black and White households in America, as indicated by these distressing yet expected statistics, aligns with the urgent demand for DEIA&B (diversity, equity, inclusion, accessibility, and belonging). Unless the fundamental pillars of our society such as education, academia, government, politics, judiciary, banking, housing, healthcare, and more are held responsible for acknowledging, rectifying, and transforming the injustices of oppression and discrimination, it will be another 400 years before America achieves genuine equality.