As Early As 2-Years-Old Minority Children’s Potential Is Diminished
Yes, we know that minority children are more likely to be born poor but this new study shows that although we made some progress, we still have a long way to go.
From The Huffington Post
Children of color are four times more likely than their white peers to be born into a poor family and suffer a lifetime of consequences, ranging from diminished academic standing to increased financial insecurity says a California-based Insight Center for Community Economic Development report.
“Children of color will represent the majority of children in the United States in 2024, 2024. Right now, so many of these children are living and learning in conditions that diminish their potential as early as two years old. If we…help families build just the most basic of assets, it can benefit the country over a longer period of time,”
said Trina Shanks, associate professor at the University of Michigan School of Social Work who authored the report.
A few highlights of the report include:
- In about 13 years, the population of black, Latino, Asian, Native American and Pacific Islander youths is expected to collectively outpace the number of white children living in the United States.
- Latino, black and Native American children under the age of five are three times as likely as their white and certain Asian counterparts to live in households with very little income and sometimes, zero assets,
- even when children of color come from homes that do hold wealth-building assets, the value of what their families own is generally worth less than that of white children
- 12 percent of white children live in poverty compared to 33 percent of Latino kids and 36 percent of black children
The Center’s report advocates for a series of what it calls asset-building public policies that can help poor families build modest savings accounts, which they can then use to cover emergency expenses or education costs. Such policies also aim to enhance the poor’s understanding of non-predatory financial services.