Welcome to the Reader‘s morning briefing for Wednesday, February 1, 2017.
Report: The racial wealth gap in Chicago is much higher than the U.S. average
Wealth inequality between whites and blacks, Latinos, and Asians in Chicago is much higher than the national average, according to a new study from the Corporation for Enterprise Development. The median income for whites is $70,960 “compared with $56,373 for Asians, $41,188 for Latinos and $30,303 for blacks,” according to the Tribune. Some of the findings are even more disturbing: “About 65 percent of African-American, Latino and Asian households in Chicago have so little savings and other assets that a sudden job loss, medical emergency or other income disruption would throw them into poverty within three months,” the newspaper reported. [Tribune]
