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Study looks at racial "wealth gap" in Tennessee, nationwide

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wallethub.com
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MURFREESBORO, Tenn. (WMOT)  --  Tennessee scored surprisingly well in a new study that ranks the states for financial inequality.  

Just in time for the start of Black History Month, the personal finance website Wallethub.com has compared 21 metrics to determine which states have the largest and smallest wealth gaps between whites and Americans of color.

Florida and West Virginia had the smallest financial gaps, while Rhode Island and Minnesota had the largest.

Tennessee ranked 33rd in the survey which looked at factors such as the income gap and the employment gap between whites, blacks, Hispanics and Asians.

Wallethubs Jill Gonzalez says the poverty rate gap is what hurt Tennessee’s score the most.

“I think the biggest gap we saw was in the poverty rate gap, and that was between Hispanics and whites…a 140 percent difference.”

Gonzalez says Tennessee scored relatively well in the median household income category, but the numbers still show a gap of 33 percent between whites and blacks.

Would you like to review the complete Wallethub.com survey?