Family Wealth Gap Analysis

Decent Essays
In a dismal macroeconomic context, the gaping social inequities that the MET aims to alleviate continue with statewide and national declines in median family wealth by education level. In the first place, only 26.4% of Michigan residents 25 or older hold Bachelor’s degrees, which is beneath the national average of 29.3%. Arguably, a sizable part of the 73.6% of Michigan residents who do not hold Bachelor’s degrees must struggle to overcome the socio-economic barrier of the widening family wealth gap. Federal Reserve Bank data show that the gap in median family wealth widened among families with college education in contrast to those without it. Between 1989 and 2013, families holding 2 and 4-year college degrees experienced a slight median
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