Health+Benefits

Income Inequity: By the Numbers

A September 2020 Citi GPS report, “Closing the Racial Inequality Gaps,” highlights inequity data.
By Maureen Brody Posted on October 7, 2020

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  • White males top out at 50-54 years old with $66,250 in income. (Census Bureau, Federal Reserve)
  • 17% of blacks and 13% of Hispanics participate in defined benefit plans (often through unions), while 401(k) plans garner 28% of Hispanic workers and 33% of blacks. (Federal Reserve Board, Citi Research)
  • 71% of whites say they are long-horizon savers/investors, contrasted to 53% of blacks and 52% of Hispanics. (Federal Reserve Board: Exploring the Racial Wealth Gap Using the Survey of Consumer Finances)
  • 23% of whites say they are risk tolerant, contrasted to 15% of blacks and Hispanics. (Federal Reserve Board: Exploring the Racial Wealth Gap Using the Survey of Consumer Finances)
  • Only 46% of blacks and 49% of Hispanics have bank accounts, compared to 77% of whites. (FDIC National Survey of Unbanked and Underbanked Households)
  • 43% of blacks have student loan debt, contrasted to 24% of whites and 26% of Hispanics. (Federal Reserve Board Survey of Household Economics and Decisionmaking, Citi Research)
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