Vermont Business Magazine With protests against racial inequality taking place all across the nation and the black unemployment rate consistently above the rate for white people, financial adviser WalletHub today released its report on the State Economies with the Most Racial Equality, along with accompanying videos and audio files. According to WalletHub, Vermont’s economy has the 8th most racial equality in the US.
In order to determine which states have the most racial equality in terms of employment and wealth, WalletHub compared the 50 states and the District of Columbia across eight key metrics. Our data compares the difference between white and black Americans in areas such as annual income, unemployment rate and homeownership rate.
Racial Equality in Vermont’s Economy (1=Most Equality; 25=Avg.):
- 6th– Median Annual Income
- 1st – Unemployment Rate
- 1st– Homeless Rate
- 1st– Share of Unsheltered Homeless
- 6th– Share of Executives
What can the U.S. do to promote greater economic equality for black Americans?
“One way to help black Americans achieve greater economic equality is to increase funding for schools in underserved districts with high minority populations, since a better education can lead to better job opportunities in the future,” said Jill Gonzalez, WalletHub analyst. “In addition to providing higher quality education, we should combat the low representation of black Americans in business executive positions by promoting youth programs that offer resume-building leadership experience, and by pushing for merit-based advancement within large companies.”
How will the recent protests across the nation affect economic conditions for minorities?
“In the long term, the protests seen in the past few weeks have the potential to help minorities economically, as the U.S. is growing more conscious of social and economic inequality, and governing authorities are being pressured to pass laws that address those disparities,” said Jill Gonzalez, WalletHub analyst. “In the short term, the rioting that accompanied some of the protests created further business destruction that is bad for everyone involved.”
State Economies with the Most Racial Equality
|Overall Rank*||State||Total Score|
|51||District of Columbia||16.00|
*No. 1 = Most Equality
To view the full report and your state’s rank, please visit: