A recently released study said the wealth gap between nonwhite and white families has increased by $40,000 since the March on Washington took place on Aug. 28, 1963.
The study was conducted by the Federation of Protestant Welfare Agencies, an anti-poverty, policy, and advocacy organization based in New York City. The organization’s CEO, Jennifer Jones Austin, said the gap is disturbing, noting the observance of a day — July 23 — dedicated to African American women workers getting their fair share of pay.
“As we observe Black Women’s Equal Pay Day, we bring attention to the fact that denying Black and brown women fair and equitable wages represents one of the most insidious manifestations of racial and gender prejudice in our country, given its effects on children, families, and communities. Even with advanced educational degrees or high-powered positions, Black women still trail behind their white and male counterparts in receiving ample compensation for their work. Our latest deep dive into the numbers reveals this stark racial gap: Black and brown women earn $0.64 and $0.55, respectively, for every $1 white men earn.”
Austin said the wage inequality doesn’t allow women of color to invest in their families they want to and hinders them from buying a home, starting or investing in a business or paying for their children’s education.
Austin said her organization is working to level the pay gap between the genders and the races by eliminating wage and occupational segregation, increase wages and enforce pay equity laws.