Many households in Black communities cannot afford to pay for reliable internet or electronic devices to facilitate remote learning. Wealth also provides families the means to invest in their children’s education, to start a business, relocate for new and better opportunities, buy a house, and have greater participation in the democratic process. However, the lack of financial security combined with disproportionate exposure to the deadly coronavirus has had especially disastrous results for the Black community. The pandemic brought multiple such emergencies to American families across all demographics. Wealth allows households to weather a financial emergency such as a layoff or a family member’s illness. ![]() Black households have a fraction of the wealth of white households, leaving them in a much more precarious financial situation when a crisis strikes and with fewer economic opportunities. Yet wealth is vastly unequally distributed across the United States.
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