Economic mobility in the U.S. has declined, with both intragenerational and intergenerational mobility rates showing challenges. Intragenerational mobility, which tracks income changes within a person’s lifetime, has decreased since the 1980s. Intergenerational mobility, comparing adult incomes to their parents’, is particularly low for children from low-income families. Racial disparities persist, with Black and Native American individuals experiencing lower upward mobility and higher downward mobility compared to White Americans. Women face additional barriers, earning less than men, with significant wage gaps for Black and Latina women. Factors such as parental income, wealth inequality, and structural barriers like residential segregation and systemic racism contribute to limited mobility. Proposed policy solutions include tax reform, investments in education and job training, and addressing systemic inequities.
— new from Equitable Growth
