The Economic Status of Black Men and Women in America
Curated by African American Shared Enterprise (AASE)

Disclaimer: A Note of Purpose and Empowerment
This report is curated with the genuine purpose of examining the evolving economic conditions of Black men and women in America. While some statistics may vary depending on the source, the patterns they reflect are broadly and consistently true. The primary objective of this report is diagnostic: to uncover systemic economic challenges so we can identify opportunities and homegrown solutions.

The power to build a better future does not lie in the hands of those who codified our struggles, but in each Black man and woman’s will to rise above opposition, to reclaim agency, and to shift mindset as the foundation of a new reality. This is not just about economics. It is about empowerment.

I. Age-Based Economic Breakdown

Ages 18–24: The Foundation Years

Status:
  • Average annual income: $21,000 (men), $19,000 (women)
    (Estimate based on BLS, 2024 Q4)
  • Unemployment rate 9.6%, significantly higher than White counterparts
    (Bureau of Labor Statistics, BLS.gov)
  • Less access to post-secondary education; Black students are underrepresented in high-income earning fields
    (National Center for Education Statistics, 2023)
Challenges:
  • Underfunded K–12 education in predominantly Black communities
  • Disproportionate student loan debt
    (Brookings Institution, 2022)
  • Hiring bias and employer discrimination for first-time workers
Opportunities:
  • Certification and trades over 4-year debt-heavy paths
  • Tech entrepreneurship and digital content creation
  • Peer-to-peer investment and micro-lending communities

Ages 25–34: Workforce Entry & Family Formation

Status:
  • Median household income: $39,000 (men), $35,000 (women)
    (IWPR Fact Sheet, 2024)
  • Homeownership rate: 34% for Black Americans vs. 74% for Whites
    (U.S. Census Bureau, 2023)
  • Highest burden of student loan debt by race
    (Education Data Initiative, 2023)
Challenges:
  • Earnings disparity: Black workers earn $0.76 per dollar earned by White peers
    (U.S. Census, 2023 Income & Poverty Report)
  • Lack of family wealth to assist with buying homes or launching businesses
  • Lower credit scores due to systemic inequities
Opportunities:
  • Buy-in cooperatives and credit unions tailored to young Black professionals
  • Blockchain-based equity financing platforms
  • Professional networks focused on Black advancement

Ages 35–49: Mid-Career & Wealth Building Years

Status:
  • Median income: $49,000 (men), $42,000 (women)
    (IWPR, 2024)
  • Only 3% of Black Americans own employer businesses
    (U.S. Small Business Administration, 2023)
  • Black households hold 10x less wealth than White households on average
    (Federal Reserve, 2023 Survey of Consumer Finances)
Challenges:
  • Glass ceiling limits upward corporate mobility
  • Chronic health conditions (e.g., hypertension, diabetes) impact productivity
    (CDC Health Disparities Report, 2022)
  • Disproportionate layoffs during economic downturns
Opportunities:
  • Business incubators focused on Diaspora trade and cooperative models
  • Real estate investment and pooled property ownership
  • Mentorship initiatives for upward career mobility

Ages 50–64: Peak Earning to Pre-Retirement

Status:
  • Income begins to plateau or decline after 55
  • Lower 401(k) balances and retirement accounts
    (National Institute on Retirement Security, 2023)
  • Often serve as family caretakers while still working
Challenges:
  • Workplace ageism, especially for Black professionals
  • Health issues reduce ability to remain in workforce
  • Entrepreneurship perceived as “too late to start”
Opportunities:
  • Legacy-focused business ventures
  • Paid speaker/consulting paths based on decades of experience
  • Retirement transition planning through Black financial institutions

Ages 65+: Retirement & Legacy Phase

Status:
  • Median wealth for Black retirees: $24,520 vs. $250,400 for White retirees
    (U.S. Census Wealth Report, 2024)
  • More than 45% of Black retirees rely solely on Social Security for income
    (Social Security Administration, 2023)
Challenges:
  • High medical expenses with lower savings and coverage
  • Estate planning gaps due to lack of inherited assets
  • Undervalued roles in elder wisdom and economic mentorship
Opportunities:
  • Intergenerational mentorship and investment planning
  • Wealth transfer strategies through community land trusts and living trusts
  • Elders as cultural consultants in family, business, and finance

II. Structural Factors Shaping Economic Realities

1. Racial Discrimination

  • Black families earn $57 per $100 White families earn, and hold only $5.01 per $100 of White family wealth
    (Brookings Institution, 2022)
  • AI and automation projected to widen this gap by $43 billion/year
    (McKinsey Global Institute & Axios, 2024)

2. Educational Disparity

  • Black college grads hold 70% more debt on average than White peers
    (Education Data Initiative, 2023)
  • Advanced degrees still don’t eliminate wealth inequality
    (Duke University Study, 2024)

3. Health Disparities

  • Black adults are more likely to suffer from chronic illnesses, reducing lifetime earnings
    (CDC, 2022 Health Disparities Report)
  • Environmental racism (e.g., proximity to industrial zones) affects both health and housing value

4. Entrepreneurial Exclusion

  • Black business loan denial rate is nearly twice that of White applicants
    (Federal Reserve Bank of New York, 2023)
  • Lack of venture capital flow to Black founders (<2% of all VC funding)
    (Crunchbase, 2024)

5. Wage Suppression

  • Black women earn only 62% of what White men earn in the same age range (36–45)
    (IWPR Wage Gap Report, 2024)
  • Overrepresentation in low-wage, low-benefit service jobs

III. Where We Are → Where We Go

The African American community remains immensely undercapitalized, not because of a lack of talent or creativity, but due to systemic barriers, intergenerational disadvantage, and structural exclusions. However, this reality is not permanent. It is changeable.

The diagnosis is clear. The prescription is collective strategy:

  • Empower minds through wisdom, financial and cultural education
  • Build wealth ecosystems rooted in shared ownership
  • Redefine productivity in alignment with Black excellence and innovation
  • Reclaim narrative and legacy through community-centered advancement

Contact Us

African American Shared Enterprise, LLC
Email: africandiasporaunitygroup@gmail.com