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Adapted from the Cook Center on Social Equity; Chart: Naema Ahmed/Axios

On average, Black households in the U.S. with heads who have completed a college degree have less net worth than white households headed by someone with less than a high school education.

Why it matters: It is only after completing advanced post-college work that the median Black household surpasses the median white household's net worth for a head with only a high school degree.

  • Even then, the average Black earner has about half as much wealth as the average white earner with just a college degree.

What we're reading: "Family wealth is a predictor of both college attendance and college completion," notes a 2018 study from the Insight Center for Community Economic Development.

  • "Black students are more likely to take on student loans and accumulate student loan debt, and they are more likely than white students to drop-out of a university because of financial concerns. Ironically, their wealth position could deteriorate because of their intense motivation to pursue higher education."

One level deeper: "Another commonly held misconception is that Black families have a cultural predisposition to under-value education."

  • "However, the best evidence indicates that Black families, controlling for household type and socioeconomic status, tend to be more supportive than white families of their children’s education through direct financial support."
  • "Black parents who provide some support for their children’s higher education have two-thirds of the median net worth of white parents who provide no support for their children’s higher education.
  • "For given levels of household income, parental educational attainment, and/or parental occupational status, Black youth also get more years of schooling and acquire more credentials than white youth whose parents have a similar status."

Go deeper: Dallas Fed chief says systemic racism drags down the U.S. economy

Go deeper

Parents of 545 children separated at southern border remain unfound

Illustration: Aïda Amer/Axios

The U.S. cannot locate the parents of 545 migrant children separated under a 2017 pilot program as part of President Trump’s immigration policy, NBC News first reported, citing a filing from the American Civil Liberties Union.

Why it matters: The number of parents who are currently considered “unreachable” is larger than was previously known. Search efforts have grown increasingly difficult given the time that has passed between when the children were released from federal custody and when volunteers started trying to find them.

Tina Reed, author of Vitals
16 mins ago - Health

The shifting definition of fully vaccinated

Illustration: Sarah Grillo/Axios

The definition of what it means to be "fully vaccinated" is evolving even as the CDC has remained careful not to officially change it.

Why it matters: CDC officials have been balancing the job of convincing Americans who've already gotten two doses of the importance of boosters with getting many Americans who still need their first doses to get their shots at all.

Mike Allen, author of AM
26 mins ago - Economy & Business

Small businesses see hiring as No. 1 worry

Illustration: Aïda Amer/Axios

Almost every small business owner in a Goldman Sachs survey is having trouble hiring — and two-thirds think the federal government has done too little to ease their hiring, supply-chain and inflation worries.

Why it matters: The Goldman Sachs research gives a vivid window into the continuing headwinds and hardship for entrepreneurs.

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