We continue our analysis of “single” women 65 and over who are not in the labor force (retired). Last week, we looked at housing and well-being. This week, we examine the income sources for these women.
Show Me the Money
Despite having income from diverse sources, the 2021 median total personal income for Asian, Black, Indigenous American, Multiracial, and Hispanic women was below 150 percent of the 2021 Federal Poverty Guidelines (see Table 1 and Table 2). Couple poverty-level income with an increase in rent prices during the pandemic, and the result will be a high rent cost burden.
Table 1. Income Sources for Retired Women Age 65 and Older: by Race
Note: Some women reported wages despite not being in the labor force. This discrepancy could be due to an error in the survey question, or they may have earned wages in the previous year.
Source: 2022 American Community Survey. Calculations by the Women’s Institute for Science, Equity and Race.
Table 2. Income Sources for Hispanic Retired Women Age 65 and Older:
Note: Some women reported wages despite not being in the labor force. This discrepancy could be due to an error in the survey question, or they may have earned wages in the previous year.
Source: 2022 American Community Survey. Calculations by the Women’s Institute for Science, Equity and Race.
A #JustEconomy
I am attending the “Building a #JustEconomy” conference organized by the National Community Reinvestment Coalition (NCRC) this week. The NCRC was established to increase the flow of private capital into traditionally underserved communities. During conversations with NCRC staff and members, I learned about their commitment to building wealth, providing affordable housing, and holding banks accountable through community banking agreements.
Yesterday, NCRC organized “Hill Day,” where I met with Congresswoman Jennifer Wexton’s and Senator Tim Kaine’s office staffers. Tomorrow, I will present research on single low-income mothers from our partnership with Share Our Strength. The session’s title is “Making Shift Happen: Redefining the Economic Mobility of Single Mothers.”
I am excited about attending the sessions and learning from other attendees about how they work to improve the lives of Asian, Black, Hispanic, Indigenous, and Multiracial women.
