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In a sign of the fading American Dream, 92 percent of children born in 1940 earned more than their parents, but only half of those born in 1984 can say the same, researchers said Monday. Greater inequality in the distribution of growth is largely to blame, said the findings in the US journal Science. "Children's prospects of earning more than their parents have faded over the past half century in the United States," said the study, led by Raj Chetty of Stanford University. "Absolute income mobility has fallen across the entire income distribution, with the largest declines for families in the middle class."
Since little data exists linking children to their parents in terms of economic performance, researchers combined US census data with tax records, adjusting for inflation and other confounding variables. They found the sharpest declines in income in the industrial Midwest, including states like Indiana and Illinois. "The smallest declines occurred in states such as Massachusetts, New York and Montana," said the study.
(Score: 1, Insightful) by Anonymous Coward on Wednesday April 26 2017, @06:30AM (4 children)
Yes as an American I'm aware of my standard of living. No jobs, no healthcare, crumbling roads, library hours dwindling, museum admission prices skyrocketing, bus drivers too apathetic to stop at bus stops. And wherever I go I see people spitting on the street. I hate America as much as the next American but let me tell you, the one thing I won't do is spit on the street.
(Score: 2) by The Mighty Buzzard on Wednesday April 26 2017, @10:26AM (3 children)
S'funny, the jobs numbers have done nothing but increase since Obama left office and you lot were touting his "recovery" every chance you got. Oh, I get it, reality only exists when it fits your narrative.
My rights don't end where your fear begins.
(Score: 0) by Anonymous Coward on Wednesday April 26 2017, @04:07PM
Troll troll troll, no opinions of substance, troll troll troll
ARE WE HAVING FUN YET?
(Score: 1) by fustakrakich on Wednesday April 26 2017, @04:32PM
:-) I think you're looking at last year's numbers. Not that it makes much difference since the jobs being offered are hardly what anybody would call 'upwardly mobile', or even anything close to being stable, just two of the hallmarks of a civilized society.
La politica e i criminali sono la stessa cosa..
(Score: 0) by Anonymous Coward on Wednesday April 26 2017, @07:05PM
The labor non-participation rate (people who want a job and can't find one) remains at 23 percent, same as it's been for years.
Anything else is numbers games.
(Thanks for the "improved" counting method, Slick Willie.)
Meanwhile, Trump has claimed to have saved jobs, but anything that has happened in the job market since January 20, 2017 had been planned for many months before that date.
Trump has made exactly zero difference in unemployment so far.
He has gotten zero legislation passed and even his anti-Proletariat executive orders have been negated by courts.
...which is not to say that the results on the job front would be any different with Hillary.
What's needed in USA is a program to turn workers into worker-owners e.g. Italy's Marcora Law. [google.com]
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