LEARNING AREA: Economic Development, Racial Equity
Image
DemographicsofWealth.jpg

Demographics of Wealth: How Age, Education and Race Separate Thrivers from Strugglers in Today’s Economy

Author:

Federal Reserve Bank of St. Louis

Year:

2015

Description:

Drawing from the Federal Reserve’s triennial Survey of Consumer Finances, which includes data from over 40,000 families (spanning 1989 to 2013), the paper provides a snapshot of four ethnic groups in terms of net worth, income, assets, liabilities, and basic financial decision-making. The authors conclude that there are stark divides between thriving and struggling families, with little progress made over the last quarter-century.