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Disparate Recoveries: Wealth, Race, and the Working Class after the Great Recession

Publication ,  Journal Article
Addo, FR; Darity, WA
Published in: Annals of the American Academy of Political and Social Science
May 1, 2021

What does it mean to be working class in a society of extreme racial wealth inequality? Using data from the Survey of Consumer Finances, we investigate the wealth holdings of Black, Latinx, and white working-class households during the post–Great Recession (pre–COVID-19) period that spanned 2010 to 2019. We then explore the relationship between working-class and middle-class attainment using a wealth-based metric. We find that, in terms of their net worth, fewer Black working-class households benefitted from the economic recovery than white working-class households. Among white households, the working class saw the greatest increase in wealth in both absolute and relative terms. Working-class households were less likely to be middle class as defined by their wealth holdings, and Black and Latinx households were also less likely to be middle class. For Black households, racial identity is a stronger predictor of wealth attainment than occupational sector.

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Published In

Annals of the American Academy of Political and Social Science

DOI

EISSN

1552-3349

ISSN

0002-7162

Publication Date

May 1, 2021

Volume

695

Issue

1

Start / End Page

173 / 192

Related Subject Headings

  • General Arts, Humanities & Social Sciences
 

Citation

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Chicago
ICMJE
MLA
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Addo, F. R., & Darity, W. A. (2021). Disparate Recoveries: Wealth, Race, and the Working Class after the Great Recession. Annals of the American Academy of Political and Social Science, 695(1), 173–192. https://doi.org/10.1177/00027162211028822
Addo, F. R., and W. A. Darity. “Disparate Recoveries: Wealth, Race, and the Working Class after the Great Recession.” Annals of the American Academy of Political and Social Science 695, no. 1 (May 1, 2021): 173–92. https://doi.org/10.1177/00027162211028822.
Addo FR, Darity WA. Disparate Recoveries: Wealth, Race, and the Working Class after the Great Recession. Annals of the American Academy of Political and Social Science. 2021 May 1;695(1):173–92.
Addo, F. R., and W. A. Darity. “Disparate Recoveries: Wealth, Race, and the Working Class after the Great Recession.” Annals of the American Academy of Political and Social Science, vol. 695, no. 1, May 2021, pp. 173–92. Scopus, doi:10.1177/00027162211028822.
Addo FR, Darity WA. Disparate Recoveries: Wealth, Race, and the Working Class after the Great Recession. Annals of the American Academy of Political and Social Science. 2021 May 1;695(1):173–192.
Journal cover image

Published In

Annals of the American Academy of Political and Social Science

DOI

EISSN

1552-3349

ISSN

0002-7162

Publication Date

May 1, 2021

Volume

695

Issue

1

Start / End Page

173 / 192

Related Subject Headings

  • General Arts, Humanities & Social Sciences