The income gap between white and Black young adults was narrower for millennials than it was for Generation X.
Discover incredible Insider Deals that will make your life a little bit easierFILE - Activists appeal for a $15 minimum wage near the Capitol in Washington, Thursday, Feb. 25, 2021. The income gap between white and Black young adults was narrower for millenials than for Generation X, according to a new study that also found the chasm between white people born to wealthy and poor parents widened between the generations.
A key factor was the employment rates of the communities that people lived in as children. Mobility improved for Black individuals where employment rates for Black parents increased. In communities where parental employment rates declined, mobility dropped for white individuals, the study said. In contrast, the class gap widened for white people between the generations — Gen Xers born from 1965 to 1980 and millennials born from 1981 to 1996.
There was little change in the class gap between Black Americans born into both low-income and high-income households since they experienced similar improvements in earnings.
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