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“Income is not a guarantee, it gives you a leg up for sure but the education trumps that, education is critical,” he says.
There is already a large wealth gap between black and white households, which is at its highest level since 1989, according to data from Pew Research.
And that can have a ripple effect that impacts not only current earnings, but future economic mobility.
According to a recent memo from Brookings Institution, when looking at married women ages 25 to 35, about 41 percent of white women had husbands who had similar educational-attainment levels, while only 32 percent of married black women could say the same.
That’s bad news for those who aren’t able to participate in such forms of advancement at the same rate as other races, especially because educational and wealth gains can be passed down to the next generation, which then helps families solidify their economic standing—a feat that has already proven more difficult for black families.
Americans with no more than a high school diploma have fallen so far behind college graduates in their economic lives that the earnings gap between college grads and everyone else has reached its widest point on record. After further developing her career and computer skills, she landed a job in mortgage lending that paid nearly double what she earned in previous jobs.
That was up from 51% in 1999 and is the largest such gap in EPI's figures dating to 1973.Children from households with single, or unwed parents are more likely to have both lower educational attainment and lower income levels, according to data from the Center for Law and Social Policy.And more than ever, people of higher educational and income attainment are choosing to marry each other, instead of selecting mates from different educational backgrounds.Last year, for the first time, a larger proportion of workers were college grads (36%) than high school-only grads (34%), Carnevale's research found.