Only 50% of Children Entering Labor Force Today Earn More Than Their Parents

[rangerrebew]

 Only 50% of Children Entering Labor Force Today Earn More Than Their Parents

Posted By Ali Meyer On December 13, 2016 @ 4:59 am In Issues | No Comments

For young individuals entering the labor market today, only about half of them are earning more than their parents, according to a report produced by economists from Stanford, Harvard, and the University of California.

These economists created a project called “The Equality of Opportunity,” where they track upward mobility over decades, evaluating the ability of young individuals to move up the economic ladder and achieve the “American Dream.”


Article printed from Washington Free Beacon: http://freebeacon.com

URL to article: http://freebeacon.com/issues/50-percent-children-entering-labor-force-today-earn-more-parents/

[uglybiker]

But...but...I just spent 11 years getting my Masters in (insert name of group here) Studies! I should be able to go where I want and make as much as I want but they won't even hire me!
I need to go to my safe space! Where's my crayons! They'll listen to me!

[endicom]

The report finds that the percentage of children who are able to achieve this definition of the “American Dream” has fallen from 90 percent for those who were born in 1940 to 50 percent for children who were born in the 1980s.

Being born in 1940 meant entering the labor market during boom years. Comparing that age group to Depression-era parents is misleading.

I agree with the thrust of the article but not with sensational, cherry-picked data.