Persistently large wealth inequality leaves many African-Americans--as well as Latinos and some parts of the Asian-American communities--in a very precarious economic situation and poorly prepared for retirement.
A report shows that while young black workers with college degrees have fared better than their less-educated peers, they have a higher unemployment rate and are more likely to find themselves in a job that does not require a degree than other recent college graduates.
“If Detroit fails it will hurt our nation as a whole. It will send a message to minority and urban youth that their futures are as hopeless as they seem and the country doesn't care. It will add to a national atmosphere of hopelessness and decay. And we will have missed an opportunity to turn the tide for America's cities.”
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