ABOUT BLACK AMERICANS - INCOME

2004 University of Georgia Selig Center study, U.S. Census Bureau, National Black Chamber of Commerce, Target Market News, 2004 NUL "State of Black America" Report

76% live above the poverty line (vs. 10% in 1940 and 45% in 1960). All-time high above poverty: 79% in 2001

5% rich, 44% middle class, 27% working class, 24% poor (2004)

Overall median household income: $$30,134 (2004). Median income for married households: $48,000 (2002)

Top 5 states with highest median black household income: New Hampshire $43,574, Alaska $42,887, Maryland $41,652, Hawaii $41,032, New Jersey $38,513

Married households: 50% earn $50,000+. 27% earn $75,000+

Overall households: 33% earn $50,000+. 16% earn $75,000+

Median black adult male income (2000): $30,409. Median black adult female income (2000): $25,117

Poverty rate by family composition: married-couple families 8%, single-dad families 19%, single-mom families 35%

70% of children overall are not poor, 30% are poor. Percentage of poor children who live in single-mom households: 85%

Poverty rate for ages 65+: 78% not poor, 22% poor. Women 26%, men 16%

Combined GDP: $728 billion per year (2003, would be world's 16th largest economy). Per capita GDP: $19,008 (akin to Portugal, Taiwan, Israel)
top 5 expenditures: housing $131.7 billion, food $52.7bn, vehicles $47.9 bn, clothing $22.9 bn, health care $16.7 bn

Median individual net worth: $16,000

Mean black families' net worth (2001): $75,700 (vs. $59,400 in 1992)

Black financial assets: $1.4 trillion. 42% in home, 33% in financials (stocks, bonds, etc.)

92.1% are employed. All-time high since slavery's end: 92.8% (April 2000)

24% employed by the government

5% own businesses. 1 million black-owned businesses. Top 5 states with largest # of black businesses: New York, California, Texas, Florida, Georgia

Women: 36% technical/sales/administrative support, 27% service, 25% professional/manager (vs. 4% in 1960)

Men: 28% operator/fabricator/laborer, 19% professional/manager (vs. 4% in 1960), 19% technical/sales/administrative support, 19% service

Home ownership: 50.8% (vs. 35% in 1950)

Number of billionaires: 2 (Robert Johnson, BET founder; Oprah Winfrey, Harpo Productions)