Racial Equity

Racial Wealth Divide Nationally

Growing Inequity: In 2016, the median net worth of white families in the United States was $171,000, 10 times that of Black families and 8 times that of Latinx families. This racial wealth divide has grown over the past several decades and is expected to continue growing. Learn More.

Racial Wealth Divide in Illinois

Economic Inequity: Liquid asset poverty is a measure of the liquid savings households have to cover basic expenses for three months if they experienced a sudden job loss, a medical emergency or another financial crisis leading to a loss of stable income. 25% of white households in Illinois are liquid asset poor compared to 65% of Black households and 46% of Latino households. These disparities are even greater in Chicago.

The following data points from the Illinois Poverty Report shed light on some of the systems that perpetuate this wealth inequity:

• Black children in Illinois are nearly 4 times more likely to live below the poverty line than white children.
• The Illinois school districts with the most students of color receive 16% less in funding per student than districts serving the fewest students of color.
• Unemployment rates are far higher for black Illinois workers than whites at every educational level.
• Illinoisans of color are 2 to 3 times more likely to not have health insurance.

These disparities threaten the economic and social well-being of our state. The racial wealth divide that exists between white people and people of color requires a systemic response. Our policy agenda aims to help close the racial wealth divide in Illinois.