February 18th 2024.
According to a recent release from CNBC Make It, it has been revealed that the wage gap between different races and the disparity between white and Black workers starts as early as adolescence. It was reported that for every dollar a white worker makes, a Black worker only makes 76 cents. The Department of Labor also found that the median weekly earnings for full-time Black workers between the ages of 16 and 24 was only $614, while their white counterparts earned $747 per week. Although this gap is smaller compared to adults, it is still a pervasive issue.
The experts at CNBC discussed the various factors that could be contributing to these disparities at such a young age. Senior fellow at the Brookings Institution, Andre Perry, suggested that job opportunities for youth are heavily influenced by their family environment. He explained that children from higher-income and wealthier families have greater access to opportunities that their parents can provide. This includes not only financial resources but also the overall wealth of the family. For instance, having a car can open up more opportunities for a premium job. Perry emphasized that when we talk about the outcomes of children, we are essentially describing the outcomes of their parents.
Another significant factor that affects the wages of Black youth is their geographic location. Laura Valle-Gutierrez, a member of the Century Foundation, pointed out that the average wages in areas where communities of color are concentrated tend to be lower. This further exacerbates the wage gap between white and Black workers.
In light of these findings, Valle-Gutierrez stressed the importance of keeping these disparities in mind when supporting Black youth in their professional pursuits. She also highlighted the long-term consequences of these early wage gaps, as they can have a significant impact on lifetime earnings. It is crucial to address these issues and work towards equal opportunities for all, regardless of race. As stated in a related report, the wealth of white households grew 30% faster than that of Black households during the pandemic, underscoring the urgent need for action.
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