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November 2022 Newsletter
Issue #69
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Black & White Economic Disparity |
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African Americans represent about 13% of the U.S. population, but their wealth, home/land ownership, wages & debt rates vary disproportionately
from Whites.
Wealth
The average wealth (savings, retirement, equity) for an African American family is $95,261 -- one-seventh that of a White family's $678,737.
Nearly 20% of Black families have zero or negative net worth compared to 9% of Whites.
White households—who account for 60% of the U.S. population—hold 84% ($94 trillion) of total household wealth in the U.S.
Black households hold 4%.
Single White men have the highest median wealth throughout their lifespan. The median wealth of single White men under the age of 35 is $22,640 -- 14 times greater than that of single Black men ($1,550), and 224 times greater than that of single Black women ($101). By the age of 55 and older, single White men hold 8 times more wealth than single Black men.
An estimated 19% of Black American families, roughly 3.5 million households, have a negative net worth because of a history of discriminatory policies from the government and private industry that has hindered their accumulation of wealth over time. By comparison, 8% of White households have a negative net worth. An additional 4.3 million Black households have a net worth of less than $10,000.
Median wealth
Single black women: $1,700
Single black men: $10,100
Single white men: $78,200
Single white women: $81,200
Home/Land Ownership
The home ownership rate for Whites is 73% and for Blacks it’s 42%.
Black people own less than 1% of the rural land in the United States. In contrast, White landowners own 96% with a value of over $1 trillion.
The 5 largest White landowners in America own more agricultural land than all of Black America.
Wages
Black workers make up 13% of the nation’s labor force, but earn only 9% of total U.S. wages.
The average income for African Americans is about $45,000 while average White household income
is $76,000.
Even with a higher education, the median hourly wage for Black workers is typically less than
for Whites.
Employment disparities along racial lines have resulted in a $220 billion annual gap between the wages earned by Black Americans today and what they would be earning if their occupational numbers across business sectors were proportional to their percentage of the U.S. population.
Black Americans are concentrated in lower-wage occupations and underrepresented in higher-paying careers. Black workers represent just 5% of the nation’s physicians and 4.5% of its software developers. Yet roughly 35% of all US nursing assistants, an occupation with a median wage of just $23,000, and 33% of security guards and school bus drivers are Black.
The majority of low-wage workers are White, but Black workers are far more likely to be in low-wage jobs. 53% of Black workers earn under $15 an hour.
Debt
The less income, the easier it is to pile up debt. 56% of Blacks owe money for a medical or dental bill, compared with 37% of Whites.
27% of Black households are late on paying their debts, compared to 15% of White households. 40% of Black households report on having good or very good credit, compared to 65% of White households -- leaving them more vulnerable to "payday loans" to acquire credit.
3 White men, Warren Buffet, Jeff Bezos and Bill Gates, have more wealth than 60% of all African Americans (24,000,000 people) in the U.S. combined.
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The Norwegian Nobel Committee has named jailed human rights advocate from Belarus, Ales Bialiatski, and two human rights organizations from Russia and Ukraine – namely, Memorial and Center for Civil Liberties – as the winners of this year’s
Nobel Peace Prize.
The human rights champions were recognized for an “outstanding effort to document war crimes, human right abuses and the abuse of power”, the Committee said in a statement. “Together they demonstrate the significance of civil society for peace and democracy,” it added
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A Blueprint for Reparations in the U.S.
A TED talk, featuring a conversation with William "Sandy" Darity, an economist and author of From Here to Equality, who discusses how the grievous injustice of slavery in the US led to the immense wealth gap that currently exists between black and white Americans. Explains how reparations for descendants of enslaved people could work -- and why it's necessary that the US engage in this act of compensation and redemption to make progress towards true equality. Watch now.
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Against War: Building a Culture of Peace
By Pope Francis. A prophetic call for peace & nonviolence and for the world to pursue a different path away from war. Points out that there are millions who do not aspire to war, who do not justify war . . . . especially young people who are asking to do everything possible and seemingly impossible to stop all wars. Asks readers "To commit to building a world that is more peaceful because it is more just, where it is peace that triumphs and not the folly of war; justice, and not the injustice of war; mutual forgiveness, and not the hatred that divides and makes us see the other, the person who is different from us, as an enemy." Read more.
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All Oppression Shall Cease:
A History of Slavery, Abolitionism, and the Catholic Church
By Christopher Kellerman SJ. Provides a rigorously researched, era-by-era history of the Catholic Church's teachings and actions related to slavery -- including stories of enslaved Catholics and Catholic slaveholders. By analyzing arguments of theologians who either defended or condemned slaveholding, and by examining documents of popes and councils, the book reveals the Church's role in the history of slavery -- especially in the Atlantic slave trade. Shows how religion can be used both to oppress and to liberate and provides a detailed account of the Church's slaveholding past while issuing a call for the Church to take the necessary steps to reconcile with its history. Read more.
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Great American Prophets:
Pope Francis's Models of Christian Life
By Daniel Cosacchi. Using the examples of the “Great Americans” cited by Pope Francis during his visit to the United States, discusses how prophecy can be manifested in our own time. Examples include: Abraham Lincoln, Martin Luther King Jr., Dorothy Day, Thomas Merton etc. Read more.
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Seek Justice That You May Live:
Reflections and Resources on the Bible and Social Justice
By John R. Donahue. A study of the major themes of both the Old and New Testaments that bear on issues of social justice including: creation; exodus; liberation; prophets; psalms and Wisdom literature; Jesus and the kingdom of God; Matthew and the heritage of Israel; Luke: Jesus as a Prophet who proclaims good news to the Poor; and Paul: justification and community solidarity. Consists of reflections on each of these themes followed by resource bibliographies. Read more.
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How to Remake the World
Neighborhood by Neighborhood
By Mack McCarter & Tim Muldoon. Narrates the story and philosophy of Community Renewal International (CRI), an organization founded in Shreveport, Louisiana. Tells the story of how McCarter and a small group of like-minded people, intentionally and proactively began engaging with people in the city's most violent and dangerous neighborhood addressing the practical question of community renewal and developed a replicable system. Read more.
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Bulletin of the Atomic Scientists
An independent, nonprofit 501(c)(3) media organization. Equips the public, policymakers, and scientists with the information needed to reduce human threats to our existence. Focuses on three main areas: nuclear risk, climate change, and disruptive technologies. Posts free articles on its website, publishes a digital magazine and is known for its iconic "Doomsday Clock." Learn more.
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The Nuns, The Priests and The Bombs
A documentary that follows a community of peace activists, including two Catholic nuns and a Jesuit priest in their eighties, who challenge the security and legality of America’s nuclear weapons when they break into two top-secret facilities: The “Fort Knox of Uranium” and a U.S. Navy Trident nuclear submarine base. They are willing to go to prison, and even risk death, because of their deeply held conviction that nuclear weapons are immoral and violate international humanitarian law. Asks the question: Are they criminals or prophets sending a wake-up call to the world? Learn more.
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Important Dates This Month
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November 13th: Anniversary of the Publication,
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Individuals Honored This Month |
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November 8th
I have long since come to believe that people never mean half of what they say, and that it is best to disregard their talk and judge only their actions.
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November 9th
Do everything possible so that liberty is victorious over oppression, justice over injustice,
love over hate.
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November 9th
Peace requires the simple but powerful recognition that what we have in common as human beings is more important and crucial than what divides us.
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November 14th
Only by being a man or woman for others, does one become fully human.
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