Asians are only the minority group in the US with a median income higher than that of the majority white population and a new study finds their wealth is on track to be tops too. CCTV’s Mark Niu filed this report from California.
Asians only minority group with high median income in U.S: Studysians are only the minority group in the US with a median income higher than that of the majority white population and a new study finds their wealth is on track to be tops too.
- Some experts say looking at the numbers doesn’t tell the whole story.
- A new report from the Federal Reserve Bank of St. Louis says from 1989 to 2013, the median wealth of a White family increased from around $130,000 to $134,000
- For Black and Hispanic families there has been a rise of around $3,000 and $4,000 respectively.
- For Asian families , there has been a leap from about $64,000 to more than $91,000.
- The study concludes Asian median wealth will soon surpass that of White’s.
- Indians and Chinese account for more than half of the H1-B highly skilled worker visas issued each year
Kent Troutman on the shift in U.S. wealth distribution
CCTV America interviewed Ken Troutman, research analyst at the Peterson Institute of International Economics, on the reasons behind the increasing wealth of Asians and of other minorities in the U.S.