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Closing the Equality Gap

As Juneteenth approaches, it is important to consider how far we have come since the end of slavery in 1865. There are plenty of measures to examine. WalletHub’s “State Economies with the Most Racial Equality (2024)” takes a look at the matter from an economic perspective.

Based on the numbers, Ohio does not fare well. In fact, the Buckeye State is 44th in the country for overall racial equality in the state economy.

“The U.S. has come a long way in terms of implementing equal rights, but there’s still a lot of racial inequality in our country when it comes to wealth and employment,” said WalletHub analyst Cassandra Happe. “Therefore, it’s important to celebrate and learn from the states that have helped Black Americans gain a good financial footing and close the gap with white Americans.”

But how? One expert pointed Alaska seems to have found the formula.

Other factors where some states excel include low median annual income gaps, low labor-force participation rate gaps (Alaska is fourth after a three-way tie for first), low unemployment rate gaps and low poverty and homelessness gap rates (Alaska is second and tied for first, respectively, in those categories, too).

It’s an impressive performance from a state that did not join the Union until nearly a century after emancipation. Policymakers across the country had better start looking at what it is about Alaska that has allowed them to get this one right.

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