Historic economic milestones for Black Americans mask persistent economic insecurity

Special to The Dallas ExaminerWASHINGTON – A new brief from the Joint Center for Political and Economic Studies and the Center for Economic and Policy Research documented that as Black Americans experienced record-breaking economic gains. A closer examination revealed persistent economic insecurity and enduring inequalities, that underscored the critical importance of economic issues for African Americans.The Best Black Economy in Generations – And Why It Isn’t Enough showed that on many leading indicators, there has been positive advancement for Black Americans: Record low unemployment and poverty rates, along with record high income levels and strong growth in household wealth. Black unemployment in 2023 was a record low of 5.5% – about half of the average rate in the previous 40 years. Likewise, the prime-age employment rate was at a historic high in the first half of this year (78%), and Black median household income was at its highest point in a generation ($53,000). Median Black household wealth or net worth (assets minus debts) reached a new high in 2022 of nearly $45,000 – a substantial improvement from the low of about $17,000 in 2013.Related Stories Yet, despite the fact that these economic indicators are the strongest the African American community...