June 8, 2021
The gist:
S&P Global has recently calculated the amount of money the US economy has potentially left on the table due to the“racist barriers” to educational and economic mobility for Black womxn (and their families), at approximately $507 billion over the past six decades.
Despite increasing enrollment in college and “participating in the labor force at higher rates than white women,” the barriers place Black women in lower-paying, less steady, non-recession-proof jobs that don’t allow for wealth accumulation.
In essence, they can’t catch up when they are up against institutional racism + sexism, which generate individual yearly income gaps of ‘$19K a year compared to white womxn (by 2019 estimates).’
These numbers are grim, yet it’s critical and high time that they are quantified and reported on, in order to creater working solutions and initiatives. As well as for moving non-tradtional stake-holders in the conversatio to see this is also a dollars and sense situation.
Read the Jezebel article here.
