How to close the racial wealth gap

Fifty-five years after Dr. Martin Luther King’s assassination and 40 years after his birthdate became a national federal holiday, racial inequity remains one of the most pressing issues of our time. McKinsey estimates a $220 billion annual disparity between Black wages today and what they would be in a scenario of full parity, write senior partners Shelley Stewart and James Manyika. How can we begin to stifle the impact of rising inequality and damaging social disparities? On this day honoring the civil rights leader’s impact and legacy, explore these insights on what can be done to advance racial equity and inclusive growth, and visit the McKinsey Institute for Black Economic Mobility for the latest research on how to empower, inspire, and sustain action that leads to the economic development of Black communities across the globe. And for more insights on inclusion at the heart of economic recovery, don’t miss our daily Davos 2023 coverage.

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