![]() This report builds on a wide body of previous McKinsey research on labor markets, consumers, financial inclusion, housing, entrepreneurship, and more. Note that we do not recommend or advocate for specific policies or pieces of legislation that is beyond our scope, expertise, or remit. However, this research is anchored in the economic and business issues to which we can apply analytical capabilities and contribute perspective. We acknowledge that racial equity has many dimensions beyond the purely economic, from policing and political participation to environmental justice and many more. This research effort has not analyzed the costs or effectiveness of every program and approach. These examples, drawn from publicly available source material, are illustrative rather than comprehensive and do not imply endorsement or client relationships. Similarly, this report contains many examples of actions that have been taken or solutions that have been proposed to address the gaps, although we fully acknowledge the difficulty of addressing deeply entrenched issues. While this report touches on the persistence of cycles and what it would take to break them, it is not a study of intergenerational mobility. While deeply analyzing these complex dynamics is beyond the scope of this report, we do highlight history and social context along the way, while referencing deeper research by many other organizations and scholars. Our primary goal is identifying and assessing the key economic gaps that exist today, although we have not assessed all of their causes and determinants. The combination of all five roles provides a holistic picture, although we acknowledge that it is not fully comprehensive. We look at the data from multiple angles, incorporating observations regarding occupations, industries, gender, and geography where they are relevant. In each of these roles, we identify significant gaps, measure their cost in both economic and human terms, and consider scenarios of parity. While this can be approached through any number of vantage points, we have explored these questions through the framework of five roles individuals play within the economy. The intent of this report is to lay out a broad factual foundation examining how race affects economic participation in the United States.
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