Michigan Ranked 16th!
Good news for Michigan, depending on how you look at it.
According to the Lansing State Journal, a new report from the WalletHub found that the median household income for black residents in Michigan is about 45 percent lower than for white residents, and the poverty rate for black Michiganders is 161 percent higher than for whites.
Now, at first read, you would think that is not good news, and I would agree. The good news comes when you compare those numbers to the entire United States.
In doing so, you find that those statistics are some of the nation's lowest wealth disparities, according to WalletHub.
According to the Lansing State Journal,
Michigan ranked 16th overall in WalletHub's "financial gaps" scoring. The report also showed homeownership rates were 43 percent lower for black Michiganders than for whites, and Hispanic Michiganders were about 43 percent less likely than whites to have a bachelor's degree or higher certification.
FYI: Florida was the top-ranked state and Minnesota was the worst-ranked state.
Let's take the good news where and when we can and hopefully improve on those numbers in the upcoming years.