Did you know that:
- The percentage of African Americans with a bachelor’s degree or more has more than tripled in the last 40 years (from 6.6% to 22.2%, according to the National Urban League’s annual report “The State of Black America,” first published in 1976.)
- In 2015, African American households had a net worth of one-thirteenth that of whites, were three times as likely to live in poverty, and had an unemployment rate of 10.1 percent, more than double that of whites.
- More than half of black families with children are headed by a single mother, compared to one-fifth of white families with children, and nearly 47 percent of families headed by a black single mother are in poverty.
- Economics professor Marianne Bertrand of the University of Chicago found in a recent study found that résumés with white-sounding names generated twice as many callbacks as those with conspicuously “black” names like Jamal. Employers apparently discriminate based on whether names on résumés sound “white” or “black” — even when other credentials are equal.
- The median household income for blacks is $33,000 per year compared to $57,000 for whites.
- African-American buying power is projected to reach $1.5 trillion by 2021.
CEO David Morse includes such research in his book, Multicultural Intelligence: Eight Make-or-Break Rules for Marketing to Race, Ethnicity, and Sexual Orientation.
Get in touch with our team to discover how New American Dimensions can uncover insights for you and your company about the African American market.
Watch the videos below to see examples of New American Dimensions’ previous market research for this segment:
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