On this Business Beat, Jeff shares WalletHub rankings of the best states for racial equality in employment. Michigan, unfortunately, has a lot of work to do.
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Good morning, Paul! A recent study reported by WalletHub shows that we have real work to do and much ground to cover in the fight for equality in the workforce here in the state of Michigan. The study found that only 3.2% of executive or senior level positions belong to black Americans in the country. Even though that demographic makes up 13% of the total U.S. population and beyond employment inequality.
The striking disparity and wealth between white and black American families continues to be concerning. The average white family today has a net worth of $171,000 compared just $17,000 for the average black family.
Now WalletHub recently conducted a ranking of the 50 states and the District of Columbia to determine which states have the most racial equality in terms of employment and, well, WalletHub compared the 50 states and the District of Columbia across eight key metrics and their data shows the following rankings.
Now first, the good news: Coming in at the top of the list, Alaska, New Mexico and Arizona are tops, one, two and three on the rankings list. At the bottom, well, Minnesota, Iowa, Illinois, Wisconsin and, unfortunately, Michigan ranks in the bottom tier of the list. Michigan, specifically ranking 46th out of 50 states and the District of Columbia.
Now, as we know, Paul, there’s much to be proud of here in the state of Michigan, especially lately with all the good news we’ve been getting and the various recent accolades and so on much deserved, but this stark and unacceptable reality means there is still much work we need to do to make Michigan the great state that it can be and should be, for all who live and work here. And at the very least it’s important that we keep this issue in focus.
I’m Jeff Sloan, founder and CEO of startupnation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.