Citation
Addo, Fenaba R. & Zhang, Yiling (2019). The Millennial Racial Wealth Gap.. Cramer, Reid (Ed.) (pp. 55-66). Washington, D.C.: New America.Abstract
Wealth inequality among different racial and ethnic groups has been a defining feature of American society. However, new dynamics are emerging with the rise of the Millennial generation that will likely impact the extent of future divides. In this chapter, we examine racial wealth inequality among Millennial young adults. Along with summarizing wealth profiles of young Millennials of color, we explore wealth inequality within the context of historical legacies of Black-White wealth inequality, the proliferation of debt—specifically student loan debt—and the ongoing marital retreat. We also examine how the association of income and education with wealth vary significantly by race and ethnicity and contribute to pre-existing/intergenerational wealth gaps. If the trends we describe continue—and are ignored by policymakers—dramatic levels of inequality according to race and ethnicity will endure for decades to come.URL
https://www.newamerica.org/millennials/reports/emerging-millennial-wealth-gap/the-millennial-racial-wealth-gapReference Type
Book SectionYear Published
2019Author(s)
Addo, Fenaba R.Zhang, Yiling