Blacks in the U.S. Gaining Wealth and Education Faster Than Other Groups

Study paints often overlooked picture of strength and resilience

(Image: File)

If you look at most of the headlines about blacks in America, you’ll see a barrage of sad stories dominated by news about pay gaps, wealth gaps, and all sorts of pieces that, it can be argued, take a simplified look at what’s really going on in black America.

[RELATED: Black Immigrants in U.S. Earning 30% More than U.S. Born Blacks]

While the scars of history are still evident in the forms of racism, discrimination, and things like higher unemployment rates than other groups, it is imperative that we look at what’s percolating beneath the surface, and where we are on our evolutionary path.

“When black consumers see how much power they have, it will change the way African Americans look at themselves, and allow them to realize what an economic power they have become,” says Andrew McCaskill, senior vice president of Global Communications at Nielsen.

“They have the power to drive the products and services that come into their lives and come into their communities,” he adds.

A study by Nielsen, upends many of the stereotypes that come with the national focus on just the socioeconomic challenges of blacks. Some of the key findings of the report:

  •  African American income growth rates outpaced those of non-Hispanic whites at every annual household income level above $60,000.
  • The largest increase for African American households occurred in the number of households earning over $200,000, with an increase of 138%, compared with a total population increase of 74%.
  • The rate of black high school graduates enrolled in college increased in 2014 to 70.9%, exceeding the rate of all high school graduates in the nation.

“The size and influence of affluent African Americans is growing faster than that of non-Hispanic whites across all income segments, and the impact is being felt across industries,” said Cheryl Pearson-McNeil, senior vice president, U.S. Strategic Community Alliances and Consumer Engagement, Nielsen.

“These larger incomes are attributed to a number of factors, including youthfulness, immigration, historic educational attainment, and constant, relevant dialogue across various social media channels that have an impact on African American decisions as brand loyalists and ambassadors. Savvy marketers are taking notice,” she adds.

Taking notice and dealing with the new realities of what it means to be black in America.



31 Responses to Blacks in the U.S. Gaining Wealth and Education Faster Than Other Groups

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  4. New Day says:

    I hope this story is true but I don’t see it in my daily life.

    • George says:

      I definitely see it. I just watch and smile. There is a long way to go but things are moving.

    • Delvin Edwards says:

      Thats because your eyes are on the local and cables news that will not report this. The hood is only a small portion of our community. If that is all you see that is what you believe. There is a bigger world out there, move around and explore the truth.

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  6. Soulgy says:

    There is still a long way to go, black ownership of business, delivering goods and services, while employing from said community and beyond.
    Making our dollars circulate in our communities for maximum effect. Understanding the circulation of money, and how it affects the local economy. Overcoming the last to be hired, first to be fired, way of doing business, and the feebleness it cause on our families and local communities. Time we take the ” bull by the horns “, and create a stable
    Black economic base through, business ownership, in retai, small scale manufacturing/ production, partnerships, and service economy, and last but not least, invention and inovation. Benefiting from our ideas, it’s about time.

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