The current white-to-Hispanic wealth ratio has reached a level not seen since 2001.
(Asians and other racial groups are not separately identified in the public-use versions of the Fed’s survey.) Leaving aside race and ethnicity, the net worth of American families overall — the difference between the values of their assets and liabilities — held steady during the economic recovery.
From 2007 to 2010, the median net worth of American families decreased by 39.4%, from 5,700 to ,300.Rapidly plunging house prices and a stock market crash were the immediate contributors to this shellacking.Our analysis of Federal Reserve data does reveal a stark divide in the experiences of white, black and Hispanic households during the economic recovery.Head Start agencies that provide services to children and families must meet the Head Start Program Performance Standards and the requirements set forth in the Head Start Act of 2007.The Office of Head Start (OHS) also offers direction through Program Instructions (PIs) and Information Memorandums (IMs).
More guidance is available to grantees through their federal program specialist.
The Great Recession, fueled by the crises in the housing and financial markets, was universally hard on the net worth of American families.
But even as the economic recovery has begun to mend asset prices, not all households have benefited alike, and wealth inequality has widened along racial and ethnic lines.
The wealth of white households was 13 times the median wealth of black households in 2013, compared with eight times the wealth in 2010, according to a new Pew Research Center analysis of data from the Federal Reserve’s Survey of Consumer Finances.
Likewise, the wealth of white households is now more than 10 times the wealth of Hispanic households, compared with nine times the wealth in 2010.
The current gap between blacks and whites has reached its highest point since 1989, when whites had 17 times the wealth of black households.