Wednesday, October 7, 2015

Twin Cities ranked third worst metro area in the U.S. for African Americans

From 24/7 Wall Street:

One of the largest metropolitan areas in the country, the Minneapolis-St. Paul metro area is home to nearly 3.5 million people. It is also one of the worst cities for black Americans. The disparity between the median household incomes of white and black residents is especially stark. The typical white household earns about $73,700 annually, one of the highest incomes in the country. The typical area black household, meanwhile, earns just under $28,000 annually. Low wages often come with high unemployment rates. While only 3.9% of all Twin City residents are unemployed, one of the lowest figures in the country, the unemployment rate among the city’s black residents is 12.8%.

About 20% of the area’s black residents have at least a bachelor’s degree, roughly in line with the corresponding national rate. Still, more than 35% of the area’s black population lives in poverty, a significantly higher rate than the 27% of black Americans living below the poverty line.

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