Income Inequality In the United States

 

Income inequality influences our lives directly from the sense of purchasing power, health care, life quality, education quality, and even the level of IQ. 

In this article, I will consider the perspective of the effect of income inequality in the United States. 

Since the Covid-19 hit the United States significantly, many people, mostly black and Hispanic, have lost their jobs and struggled with unemployment. 

Here is a graph of the unemployment rate among American people. 

As can be seen in the graph, black people face unemployment more sharply than white Americans. 

What is the reason for that? 

Different level of Education degree? 

High school graduates consistently face unemployment rates about twice as high as for college students. When the labor market takes a turn for the worse, as during recessions, workers with lower levels of education are especially hard hit. 

As we know, the number of black people who attend colleges is lower than white people who more likely to attend college.

The first reason why black people do not have as many college or university degrees as white Americans is that college and university are not for free in the States. So people should cover the tuition fee by getting the help of family or getting loans from banks. Therefore, many black Americans choose the way not to attend colleges. That means actually a lot for the United States. Because human capital is the most significant investment strategy for future economic empowerment. 

Income inequality in the United States firstly hit children, which causes long-term equalities. 

Covid has revealed the historical deep-rooted problems that without squaring social and economic problems up, humanity cannot go further.