Washington, D.C. – Rapidly increasing amounts of debt, high job losses, skyrocketing gas and food prices, and a tidal wave of foreclosures are driving many American families to the edge of financial ruin. Although all U.S. households are hurt in the economic slowdown, Hispanic and African-American households are more vulnerable; they are likely to suffer first and to suffer more.
The 1990s were fruitful for both Hispanics and African Americans because both groups made gains across several economic indicators and narrowed the gap between their economic standing and that of whites. Yet these gains have either slowed or been reversed since 2000.
Family income, unemployment, health care, retirement plan participation, high cost mortgages, earnings, poverty, homeownership rate, employment level and employment to population ratio are key indicators of African Americans’ and Hispanics’ standing in the economy. Click the link below to read more about these indicators.
READ THE FULL REPORT: http://americanprogress.org/issues/2008/04/minorities_economy.html