Impact of Racial Wealth Gap and Employment Inequalities on Families

The Impact of the Racial Wealth Gap and Employment Inequalities on Families
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Systemic Inequality
Growing wealth gaps have made America an unequal and diverse nation across the globe. There is no equality when it comes to the distribution of resources. To acquire wealth, especially for ethnic groups, you have to go the extra mile in most cases. How did America, one of the powerful nations, get into this problem? The problem of inequitable distribution of resources dates back to colonialization. Policymakers have failed to create systematic public policies to help merge the wealth gaps. Therefore, the racial wealth gap can be described as different in assets that ethnic groups own. The racial wealth gap has diverse economic effects on the racial groups due to employment inequalities. Although the USA is a country driven by democracy, they have failed to merge the wealth gap.
Analysis
Systemic inequality is structured racism that bars communities from ethnic groups to get less than native whites (Hanks et al., 2018). The systemic inequality document provides the details and economic reasonings that show the impact of unequal distribution of resources and employment to ethnic communities. Systemic inequality can be analyzed using economic factors such as employment status, neighborhood, and social class. People with high incomes will have the opportunity to move from one luxurious apartment to another. The affordability of the social needs demonstrates the economic and social impact of resources on the community. Unfortunately, wealth in America is distributed according to color and race (Traub et al., 2016). Native Americans earn higher salaries compared to racial groups.
Although the skills at a particular job may be the same, the payment remains despaired. The racial disparities in employment lead to wealth gaps (Traub et al., 2016). The racial wealth gaps will continue to widen since the policymakers have not set public policies that would help in solving this particular economic problem. The Black people own just a tiny share of the white wealth, creating insecurity regarding food, shelter, and health. Racial groups have less wealth which means they have fewer opportunities. Different factors can help demonstrate racial disparities and racial wealth gaps. Housing is an example of a structural systemic. According to a survey conducted in 2016, the whites’ households were equivalent to $111,146 compared to the blacks who owned $8,348 (Traub et al., 2016). These figures show the difference in wealth for Whites and Black people. The damage is extended to other racial groups living in the USA. Racism is served in all areas; racial groups find it difficult to own a house in most parts of the USA. Homeownership in America is a nightmare due to systemic inequality. Family structures can be influenced by economic forces such as industrialization and urbanization. These factors contribute largely to the formation of family patterns in the USA.
Industrialization is a mechanism used to change agriculture into a manufacturing economy. It’s a revolution that started centuries ago, and it has affected family patterns in different ways. On the other hand, urbanization is the growth of cities and towns that attract more people (Hanks et al., 2018). These economic factors are critical since they help analyze wealth in racial groups. For example, it is impossible for ordinary Americans, especially the racial groups, to own a home in Beverly Hills. Some American families have been unable to accumulate wealth due to employment disparities. White-collar jobs are meant for white people and a few lucky people from racial groups. It is a pattern that starts in the neighborhood. For instance, poor distribution of resources leads to poor education. Poor quality education means it is difficult to secure some job positions. In this case, racial or ethnic groups do not have access to quality education which means they have few opportunities on the job market (Traub et al., 2016). Contrarily, white people have access to quality education, sending their children to prestigious schools and universities.
The exposure in these schools provides a platform to explore different opportunities. In the job market, top companies and parastatals are focused on employing white people, especially those from prestige schools. The struggle to secure a well-paying job is a nightmare to racial groups, making it hard to make substantial wealth. Secondly, policymakers have not created a platform for equity. There are no laws and policies which govern the distribution of resources in America. Therefore, ethnic groups will continue to get less wealth, widening the racial wealth gap (Mollenkamp, 2022). Wealth disparities in ethnic groups mean fewer opportunities. Therefore, these patt...