The recession paradox: Are blacks worse off?

GOOD - Ironically, minorities, who have been hit the hardest by the economic downturn, do not have a negative perception of the economy...

TheGrio Staff

Oct 3, 2011

A statistic from Awesome.Good. is named “The Recession Paradox” the difference between whites and minorities in dealing with the recent economy. The study suggests that non-white Americans have been hit harder than white Americans. African-Americans experienced a 53 percent decrease in their household net wealth. Hispanic-Americans experienced a 66 percent decrease and Asian-Americans experienced a 54 percent decrease. The household net wealth for white American is 16 percent.

Ironically, minorities, who have been hit the hardest by the economic downturn, do not have a negative perception of the economy. In 2007, when the recession was just sinking in, 32 percent of white Americans were satisfied with the economy. Today in 2011 only 8 percent are satisfied with the economy. Nineteen percent of minorities were satisfied with the economy in 2007. However, in 2011 12 percent of minorities are satisfied with the economy, which is 4 percent higher than the satisfaction of white Americans.