Racial inequities cost U.S. economy trillions, researchers find

  • 📰 Reuters
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

Racial and ethnic inequities have cost the U.S. economy some $51 trillion in lost output since 1990, San Francisco Federal Reserve President Mary Daly said Wednesday, citing data from a paper she and three co-authors will present at The Brookings Institution.

Large and persistent gaps in rates of employment, education, and earnings across races "add up to a smaller economic pie for the nation as a whole," Daly said in a briefing ahead of the paper's release Thursday.

From labor alone, they figured, the gains would add up to $22.9 trillion over the thirty years from 1990 to 2019, with bigger gains in more recent years as the share of non-white populations has increased while the gaps have remained fairly steady.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.Morgan Stanley’s optimistic view of the economy isn’t keeping it from warning about a looming correction in the U.S. stock market. And monkeys “might” fly out of my butt. ms kinda sus 👀 good luck
Source: MarketWatch - 🏆 3. / 97 Read more »

More children faced food insecurity last year during pandemicSome 7.6% of households with children, nearly 3 million families, were unable at times to provide adequate, nutritious food for their kids last year, compared to 6.5% in 2019, according to a US Department of Agriculture report. and this in a country that supposedly the streets are paved with gold - sad you love your guns more than your kids And in Colorado the schools feed the 25 year olds.
Source: CNN - 🏆 4. / 95 Read more »

BlackRock Raises $1 Billion for First Chinese Mutual Fund Run by Foreign FirmThe fundraising total, 6.68 billion yuan, marks a key milestone in U.S. and global asset managers’ yearslong quest for a bigger presence in the world’s second-largest economy. Seriously insignificant compared to the Chinese domestically owned funds... Hmm… how exactly will this work? How did they get the CCP banks and apps to go along? Plus, China just started digital currency. Yeah, it’s BlackRock but even they… will fail. China is going all in domestically. Period. good to hear
Source: WSJ - 🏆 98. / 63 Read more »