Federal investments and a strong labor market recovery have improved the economic security of Black Americans, but challenges remain. Since the peak of the pandemic, Black unemployment and labor force participation have recovered significantly. However, Black workers remain nearly twice as likely to be unemployed as white workers.
Black workers saw the largest wage growth in 2022, relative to other groups, with a typical Black worker’s wages growing 11.3%, and outpacing inflation. In 2021, federal investments such as the one-year expansion of the Child Tax Credit reduced Black poverty to an all-time low. However, structural inequities embedded in the U.S. economy continue to exacerbate disparities in earnings, poverty, health care and wealth.
