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Title    Upward Mobility Has Fallen Sharply in US
Date    Wednesday April 26 2017, @04:19AM
Author    Fnord666
Topic   
from the need-a-ladder dept.
https://soylentnews.org/article.pl?sid=17/04/25/1432216

Phoenix666 writes:

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.


Original Submission

Links

  1. "Phoenix666" - https://soylentnews.org/~Phoenix666/
  2. "only half of those born in 1984 can say the same" - https://phys.org/news/2017-04-upward-mobility-fallen-sharply.html
  3. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=19826

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