State of the Blackonomy

Black Economic Statistics

• There are 43 million Blacks in America (13.1% of the total population)

• Black median income is $35,610
• Black Average income is $47,290
• Black aggregate consumer resources is approximately $1.1 Trillion
• 22% of Black households make less than $15,000 annually
• Only 10% of Black households make more than $100,000 a year
• Blacks have a median net worth of $6,446
• 33.9% of Black households have zero or negative net worth
  
• Blacks earn an average of 59 cents for each dollar earned by Whites

• 7% of Blacks inherit money (36% of whites)

• Each inherited dollar contributes 20 cents of wealth for Blacks (91 cents for whites)
• 28% of Blacks live in poverty
• 44% of Black households own homes
• Black families have an average debt burden of 53% (compared to 17% for White families)
  
• The value of real estate accounts for 48.6% of the value of a Black family's total assets
  
• Blacks lost $1Trillion worth of wealth in the Great Recession
• Black families lost an average of 27.1% of their net wealth during the Great Recession
  
• Black businesses account for 7% of total businesses (1.9 million companies)
• The Black unemployment rate is 12.6% (It has consistently been twice that of the white population for 50 years)
• There is only 1 Black American Billionaire (Out of 7 Black Billionaires worldwide.  There are a total of 1,426 Billionaires worldwide)
• 79% of Black households carry credit card debt
• African Americans currently carry an average balance of $5,784 on their credit cards
  
• 45% of African American families are using credit card debt to cover basic living expenses

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