Press Release

Joint Economic Committee Vice Chair Releases Report On The Economic Status Of Black Americans

By Black Economic Alliance |

WASHINGTON, DC—Congressman Don Beyer (D-VA), Vice Chair of the Joint Economic Committee, released a new report examining recent economic progress and remaining challenges facing the Black community in America.

“The data captured in this report show significant changes affecting African Americans which include both progress and areas where significant disparities remain,” said Beyer. “In the latter category, the unemployment rate for Blacks is almost twice what it is for Whites, which is unacceptable. Closing persistent, and in some cases, growing gaps between the economic experiences of White Americans and Black Americans is vital to helping our society overcome its history of racial discrimination.”

The report shows that Black Americans have made substantial progress, for example:

  • Black college graduation rates more than doubled from 1990 to 2018.
  • By 2017, the share of Black women enrolled in college exceeded the share of White men enrolled.
  • Incarceration rates for Black Americans fell by nearly one-third between 2007 and 2017.
  • The gap in life expectancy between non-Hispanic Blacks and Whites decreased between 2006-2010, though progress since has stalled.

Yet glaring inequities persist:

  • The Black unemployment rate remains twice as high as the White unemployment rate (6.0 percent vs 3.1 percent in January 2020).
  • The median net worth for White families is nearly 10 times greater than for Black families.
  • Black households earned just 59 cents for every dollar White households earned in 2018.
  • Fewer than half of Black families own their home compared to nearly three-fourths of White families.

Congressman Beyer is currently serving his third term in the U.S. House of Representatives, representing Northern Virginia suburbs of the nation’s capital. In addition to his role as Vice Chair of the JEC, Beyer serves on the House Committee on Ways and Means and the House Committee on Science, Space and Technology.

Read the Full Report Here