Final answer:
The earnings gap in the U.S. labor market between black and white workers has diminished since 1960 due to the Civil Rights Act of 1964, with some progress reflected in earnings ratio improvements. However, a significant gap persists to this day, and it remains a critical issue in discussions of racial equity in the workforce.
Step-by-step explanation:
Investigating the Black/White Earnings Gap
In response to the student's question regarding the earnings gap in the U.S. labor market between black and white workers, the most accurate statement is that the gap has diminished since 1960, but a gap still remains. After the passage of the Civil Rights Act of 1964, there were significant legal and societal changes that began to reduce this gap. This legislation made it illegal to discriminate in employment on the basis of race, among other factors.
Data from the Bureau of Labor Statistics indicates that there was a noticeable improvement following the Civil Rights Act; the ratio of earnings of black male workers to white male workers increased from 62% in 1964 to 75.3% in 2013. Despite this progress, complete parity has not been achieved, as studies such as those conducted by Bayer, as well as information from the Bureau of Labor Statistics, have shown that an earnings gap persists in both gender and race.
Furthermore, while the gap narrowed in the 1970s, subsequent decades saw less movement, highlighting that racial disparities in earnings have proven stubbornly resistant to change. Therefore, while there has been significant progress since the 1960s, the complete obliteration of the earnings gap has not been realized, and the disparities in earnings between black and white workers continue to be a point of concern and focus for economic and social policy.