Intersectional Wealth Gaps: Contemporary and Historical Trends in Wealth Stratification among Single Households by Race and Gender

Abstract

Wealth disparities represent one of the starkest measures of contemporary inequality in the US. While many studies have examined stratification in wealth between ethnoracial groups, and to a lesser extent between genders, scholars have paid little attention to the combination of race- and gender-based wealth gaps. We take a first step toward examining wealth gaps through an intersectional lens by examining data from single households in eleven waves of the Survey of Consumer Finances covering the period 1989–2019. Our key findings are (1) although Whites overall have higher wealth than other races and men have higher wealth than women, wealth gaps are most pronounced for groups who are doubly marginalized—Hispanic women and Black women—consistent with the non-additive tenet of intersectionality theory; (2) intersectional gaps in wealth are much larger in magnitude than intersectional gaps in income; and (3) these gaps have remained remarkably stable over the past three decades, with little sign of equalizing. We argue that accurately describing intersectional wealth gaps is a crucial step toward understanding how wealth stratification operates, as well as its implications. We conclude by discussing the need for better data and measurement to identify the causes and consequences of intersectional wealth gaps.