The American dream is difficult to achieve for many people in this country, with a substantive number of families stuck at the bottom of the economic ladder, unable to climb up.

That was a key takeaway from a briefing by Erin Currier, Director of Financial and Economic Mobility at the Pew Charitable Trusts, hosted by Seattle Foundation on Oct. 13.

The economic mobility gap between blacks and whites in America is particularly pronounced. And it’s even more extreme in Seattle. In addition to an income gap, there’s also a wealth gap, where those at the bottom have a hard time accumulating assets and savings or transferring wealth to the next generation.

Currier said we need to find ways to build the financial, social and human capital of people who are living on those bottom rungs. Changing this increasingly stratified economic system is critical to the health of our country, she said, and we can do that by building upon what’s working and figuring out where we can improve.

[Michael] Brown shared how Seattle Foundation is working to change systems by building power in communities so that they can increase opportunities, influence more favorable policies and help close the gap in the region between the wealthy and privileged and those who are marginalized.

Read the full article by the Seattle Foundation about the racial gap in economic mobility