Minority women have had a harder time advancing in economic status compared to just about everyone else in the United States. Nowhere is this more apparent than in the numbers of median net worth for single individuals.
$110 is the median for single black and Latina women while $43,800 is the median for single white males when comparing net worth.
Figures speak louder than words sometimes and this is absolutely one of those times. While you might think it might have to do with more single women than men raising children, the median for a single white woman is $41,500.
Single women of color are far behind their Caucasian peers when it comes to net worth, possibly because of the wage gap between women of color overall and white men. Right now, women of color make about 66% of what a white man makes. Necessary expenses are color and gender blind, meaning there is a far smaller slice of the pie that can go towards saving for black and Latina women.
An easy solution to the problem doesn’t seem to be in reach immediately, but we can still help get the message out that this disparity exists.