Wealth Gap Widens

Question: 

Why are #Minority #Scholarships important?

Answer: 

Massive wealth gap between whites and other racial and ethnic groups has reached record levels. 

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Link:  money.cnn.com/2014/12/12/news/economy/wealth-by-race-pew/

The Great Recession hit all Americans hard, but only whites have seen their wealth rise during the recent recovery.

And that's widening the already massive wealth gap between whites and other racial and ethnic groups to near record levels.  

White households' median wealth ticked up to $141,900 in 2013, up 2.4% from three years earlier, according to a Pew Research Center report released Friday.

Net worth for black households dropped by a third during that time to $11,000. Hispanic families experienced a 14% decline in wealth to $13,700.

Whites have 13 times the net worth of blacks, the largest wealth gap that's existed since George H.W. Bush was president in 1989. The ratio of net worth between whites and 

Hispanics now stands at more than 10, the widest it has been since 2001...