Racial Wealth Divide in New Orleans
Author: Prosperity Now (formerly CFED)
Topic: Financial well-being
Publisher: Prosperity Now (formerly CFED)
Location: United States
Format: Report
Content Type: Research
Publication Date: October 31, 2016
The following profile presents data on the economic inequalities within New Orleans. These statistics may seem overwhelming. However, we know with more information about the challenges of racial economic inequality, there is greater opportunity to identify best practices and policies that can address the racial wealth divide. People of color in New Orleans—Black, Asian and Latino populations— generally struggle more than their peers nationwide, yet New Orleans’ White population often has better economic outcomes than the White population nationwide. The White population’s income is $5,377 higher in New Orleans than it is nationwide, while the Black population’s income is $10,194 lower. Similarly, the Asian and Latino populations’ incomes are lower in New Orleans than they are nationwide by $28,521 and $1,169, respectively. The Black unemployment rate is 2.1% higher than the national rate. Lastly, New Orleans’ White population has a 2.3% lower rate of liquid asset poverty than the nationwide White population, while the Black population’s rate is 6.1% higher than the national average.
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