Wednesday, October 20, 2010

Study Says Black Single Moms Getting Hurt Most by the Recession

by Dr. Boyce Watkins, Syracuse UniversityScholarship in Action 

NYU’s Women of Color Policy Network recently released a report citing some disturbing trends in the economic status of single mothers of color. Basically, the report shows that women of color have a median net worth of zero. Yes, you heard that correctly, nearly zippo in the bank account, and maybe a little bit of debt.

The numbers compare with a net worth of $25,000 for single fathers of all races, and a net worth of $6,000 for white single moms. Young single moms are in the worst shape, with more than half of the moms under 40 having zero or negative net worth.


Click to read.

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