NYU’s Women of Color Policy Network recently released a report citing some disturbing trends in the economic status of single mothers of color. Basically, the report shows that women of color have a median net worth of zero. Yes, you heard that correctly, nearly zippo in the bank account, and maybe a little bit of debt.
The numbers compare with a net worth of $25,000 for single fathers of all races, and a net worth of $6,000 for white single moms. Young single moms are in the worst shape, with more than half of the moms under 40 having zero or negative net worth.