• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Racial inequities cost U.S. economy trillions, researchers find

September 9, 2021 by David Barret Leave a Comment

September 9, 2021

(Reuters) – Racial and ethnic inequities have cost the U.S. economy some $51 trillion in lost output since 1990, San Francisco Federal Reserve President Mary Daly said Wednesday, citing data from a paper she and three co-authors will present at The Brookings Institution.

Large and persistent gaps in rates of employment, education, and earnings across races “add up to a smaller economic pie for the nation as a whole,” Daly said in a briefing ahead of the paper’s release Thursday.

“The imperative for equity, for closing some of these gaps, is not only a moral one, but it’s also an economic one.”

The paper maps out what GDP would have been if gaps in the labor market didn’t exist.

Employment for Black men, for instance, is consistently lower than that for men of other races.

Earnings by Black and Hispanic workers also lag those of whites.

Daly and her co-authors calculated what the gains to GDP would be if those and other race-based gaps were erased: if Black and Hispanic men and women held jobs at the same rates as whites, if they completed college at the same rates as whites, and if they earned the same as whites.

From labor alone, they figured, the gains would add up to $22.9 trillion over the thirty years from 1990 to 2019, with bigger gains in more recent years as the share of non-white populations has increased while the gaps have remained fairly steady.

The larger $51.2 trillion estimate factors in the increase in capital investments that a more productive labor pool could be expected to trigger, Daly said, and includes $2.57 trillion in 2019 alone.

The paper was written with Shelby Buckman, a graduate student at Stanford University, Boston University post-grad Lily Seitelman, and San Francisco Fed vice president of community development Laura Choi.

(Reporting by Ann Saphir; editing by Richard Pullin)

Source Link Racial inequities cost U.S. economy trillions, researchers find

David Barret
David Barret

Related posts:

  1. Afghanistan could be catalyst for common EU migration policy -commissioner
  2. Tennis-Bencic serves up masterclass to reach U.S. Open fourth round
  3. Montenegro police fire teargas at protesters incensed over cleric’s enthronement
  4. Filibuster imperils Pelosi’s abortion bill in U.S. Senate – Klobuchar

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • There’s Volcanic Unrest At The Campi Flegrei Caldera – Here’s What We Know
  • The “Rumpelstiltskin Effect”: When Just Getting A Diagnosis Is Enough To Start The Healing
  • In 1962, A Boy Found A Radioactive Capsule And Brought It Inside His House — With Tragic Results
  • This Cute Creature Has One Of The Largest Genomes Of Any Mammal, With 114 Chromosomes
  • Little Air And Dramatic Evolutionary Changes Await Future Humans On Mars
  • “Black Hole Stars” Might Solve Unexplained JWST Discovery
  • Pretty In Purple: Why Do Some Otters Have Purple Teeth And Bones? It’s All Down To Their Spiky Diets
  • The World’s Largest Carnivoran Is A 3,600-Kilogram Giant That Weighs More Than Your Car
  • Devastating “Rogue Waves” Finally Have An Explanation
  • Meet The “Masked Seducer”, A Unique Bat With A Never-Before-Seen Courtship Display
  • Alaska’s Salmon River Is Turning Orange – And It’s A Stark Warning
  • Meet The Heaviest Jelly In The Seas, Weighing Over Twice As Much As A Grand Piano
  • For The First Time, We’ve Found Evidence Climate Change Is Attracting Invasive Species To Canadian Arctic
  • What Are Microfiber Cloths, And How Do They Clean So Well?
  • Stowaway Rat That Hopped On A Flight From Miami Was A “Wake-Up Call” For Global Health
  • Andromeda, Solar Storms, And A 1 Billion Pixel Image Crowned Best Astrophotos Of The Year
  • New Island Emerges In Alaska As Glacier Rapidly Retreats, NASA Satellite Imagery Shows
  • With A New Drug Cocktail, Scientists May Have Finally Found Flu’s Universal Weak Spot
  • Battered Skull Confirms Roman Amphitheaters Were Beastly For Bears
  • Mine Spiders Bigger Than A Burger Patty Lurk Deep In Abandoned Caves
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version