Thriving Family Income
Thriving Family Income is a Success Measure that tracks the gap between household income based on race/ethnicity. Historically, white households have fared better than households of color, specifically the Black and Hispanic communities. Recent data highlights a promising trend indicating that Hispanic households are making substantial progress in narrowing the income gap with white households. Over the past five years, the income growth within the Hispanic community has outpaced that of white households, showcasing a positive trajectory toward economic stability and coming closer to closing the gap.
Ensuring that households have comparable annual incomes regardless of race and ethnicity is crucial for fostering an equitable society. Income equality across diverse communities contributes to the community’s overall well-being and stability. When households of different racial and ethnic backgrounds have similar incomes, it signifies a reduction in systemic barriers and a more level playing field in accessing opportunities such as quality education, healthcare, and housing.
While challenges persist, these data points suggest a noteworthy step towards fostering economic equality and dismantling longstanding disparities.
Prosperity Index
In 2021, KConnect launched the Prosperity Index, a weighted index of all of KConnect’s Success Measures and Indicators. It measures the movement of these data points and helps show the direction that the community is heading. The baseline was set to 1,000 points, with Success Measures having twice the weight of Indicators. Think of it as the Dow Jones Index for Kent County children and families. U
pon examining the data, our Data and Capacity Workgroup noted a decline in the community’s overall prosperity below baseline levels during COVID. However, from 2021 onward, prosperity has been on a steady rise, surpassing pre-pandemic levels. Notably, the Prosperity Index currently stands nearly 30 points higher than during the pandemic, primarily propelled by economic growth and improved outcomes in post-secondary education.
The Prosperity Index changes regularly based on updated data from the KConnect Data Dashboard, and the Data and Capacity Workgroup reviews it after each shift. More information will be coming as the Prosperity Index continues to evolve.
