The Business Case for Racial Equity
Report findings indicate that Wisconsin and Dane County have higher employment, educational and poverty disparities than the U.S. as a whole. These findings are indeed emotionally disturbing, but also have profound effects on the overall economic well-being on local, state and federal levels.
A recent Kellogg Foundation and Altarum Institute study titled, The Business Case for Racial Equity finds that closing racial and ethnic disparities would greatly increase economies on the local, state and federal levels. The following information has been pulled from the study to illustrate the impact racial and ethnic disparities have on our communities, and the benefit of closing these gaps in the future.
What are the Cost of Racial and Ethnic Disparities?
The history of racism in the U.S. has created intergenerational inequality for many individuals in health, education, housing, employment, income and wealth. Widespread disparities and unequal opportunities for communities of color is thought to have caused the U.S. to lose trillions of dollars in public expenditures and lost economic output.
Potential Impact of Eliminating Disparities
According to the U.S. Census bureau, by 2018 children of color will be the majority of children. Currently the working population is 37% People of Color; this number is projected to increase to 55% in 2050. This means that in order for the economy to grow to its full potential, we must invest in the success of our communities of color.
The above statistics and facts are just an introduction to the report and all of the ways racial and ethnic disparities impact us on a greater level than often perceived. Eliminating racial and ethnic disparities will create healthy and vibrant communities. We encourage you to continue reading the full report for more information.
If you are interested in finding out how you can play a role in eliminating these disparities the YWCA Madison offers Racial Justice workshops and trainings. Learn more about or sign up to attend the YWCA's:
Racial Justice Opportunities in the Community