Economic Benefits of Reducing Racial and Ethnic Inequality

A few decades from now, the nation’s racial and ethnic makeup will be increasingly different than it is today. The U.S. Census Bureau projects that the majority of the U.S. population will be people of color by 2043. This change is already happening at the state-level throughout our nation, and with it comes an important opportunity to reduce racial and ethnic inequalities. Closing these gaps by enacting progressive policies will improve the economic prospects and increase income for people of color, ultimately leading to a stronger economy that benefits all. But it’s not just people of color who would benefit, the economy as a whole would too. These fact sheets provide snapshots of state statistics about demographic changes and the statewide economic gains of eliminating racial and ethnic disparities by enacting sensible policies that would unleash the potential of growing communities of color.

Population of focus: People living in the U.S.

Link to resource: Download fact sheets by state

Date: 2015

Organization: Center for American Progress