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The State of the Dream 2004: Enduring Disparities in Black and White

Income, continued

Median Family Income

• The Black-white gap in median family income has actually grown since 1968. The typical Black family had 60% as much income as a white family in 1968, but only 58% as much in 2002.

[image:] Graph with the following text:
Median Family Income, 1968 and 2002
(Adjusted for Inflation in 2002 dollars)
1968 White $39,206
1968 Black $23,514
2002 White $58,270
2002 Black $33,525
The Black-White Gap in Family Income is increasing.

Source: U.S. Census Bureau, Current Population Survey, Historical Income Tables, Table F-5. See Appendix for Years to Parity calculation.

The differences in pay between white and Black employees add up to large amounts over a person's lifetime. A Black high school graduate working full time from age 25 through age 64 will earn $300,000 less than their white counterpart during their working years. A Black college graduate will earn $500,000 less on average. A Black worker with an advanced degree will earn $600,000 less on average. Imagine the difference those missing hundreds of thousands of dollars would make for Black families in housing, higher education, starting businesses and retirement.

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United for a Fair Economy • Racial Wealth Divide Project 7