Economic Health

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Economic Health is the connection between the financial resources people have—income, cost of living, and socioeconomic status—and their health. Economic and financial health plays a crucial role in Black health and wellness, impacting various aspects of individuals' lives, including access to homeownership, employment, healthcare, nutrition, education, and overall quality of life. 

Furthermore, economic instability can hinder access to safe living environments, contributing to higher rates of chronic diseases and death among Black Americans. Limited access to affordable, healthy food options in low-income communities exacerbates these disparities, making it challenging for individuals to maintain a balanced diet and optimal health. The lack of access and affordability to healthcare services is another outcome of economic inequality, with uninsured rates significantly higher than those of their white counterparts. According to the Kaiser Family Foundation, in 2020, 11% of Black adults were uninsured, compared to 7% of white adults, underscoring the disparities in access to medical care.  

Moreover, financial strain can lead to higher levels of stress and mental health issues within the Black community. According to the National Alliance on Mental Illness, Black Americans are 20% more likely to experience serious psychological distress compared to white Americans, often stemming from financial hardships and systemic inequalities. The lack of affordable mental health resources further compounds these challenges, making it difficult for individuals to access the care and support they need.  Addressing economic barriers and creating equitable opportunities for economic advancement are crucial steps in promoting the health and wellness of Black communities and reducing health disparities.