August 22, 2014
By Suzanne Gamboa
The economic divide that is being seen across the general population is happening within the Hispanic community and other racial and ethnic groups, a newly released Census report shows.
The overall median net worth of Latinos fell by $5,576 or 42 percent between 2000 and 2011. But those losses were for the bottom three-fifths of the Latino population. The top fifth, or quintile, saw its median net worth increase by $38,062, or 17.9 percent, and the second highest quintile saw no significant change over that period, Census reported.
During those same years, the overall median net worth for whites rose $3,730 or 3.5 percent, but increases occurred only in the top three-fifths. Median net worth fell for the bottom two-fifths.
Blacks overall saw their median net worth decrease by $3,746 or 37.2 percent.
Household net worth is an indicator of economic well-being. By dividing households into fifths or quintiles, Census showed the wide variation in what households experienced based on where they fall on the income scale.
Source: NBC News