Findings from the Panel Study of Income Dynamics (PSID) reveal disproportionate multigenerational poverty among Black families compared to white families. When poverty is defined as the bottom fifth of earners, Black Americans make up 44 percent of poor adults in their 30s. The persistence of Black multigenerational poverty can be attributed to deeper poverty rates among Black Americans to begin with, white mobility outpacing Black mobility, and to faster rates of Black downward economic mobility. Differences in these starting points are clear: 9 percent of white adults today had a grandparent in the bottom fifth of income, compared to 59 percent of Black adults. #wealthandassets #racialequity
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