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Upward mobility simpler is some states

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  • Started 5 days ago by haleycook
  1. haleycook
    Member
    Posted 5 days ago #

    In a first-ever state-by-state study, it appears that upward mobility differs among states. As a wide rule, consumers in the northeast have a much better chance at increasing their financial situation than do those in lower states. Source for this article: why wouldn't you find out more about

    All about the project

    When in contrast to others, some people are bound to get higher raises in wages over time. This is referred to as “upward mobility for the "The Economic Mobility Project.” The study was done by the Pew Center on the States, and it was released on Friday.

    Evaluating north and south

    The biggest increase in wealth throughout a lifetime was seen in certain states, including Massachusetts, Pennsylvania, Michigan, Utah, Maryland, New Jersey, New York and Connecticut.

    But the average resident of Louisiana, Oklahoma, South Carolina, Alabama, Florida, Kentucky, Mississippi, North Carolina and Texas will have a much harder time moving up the economic ladder, according to the report.

    The author of the study is Erin Currier. Erin was quoted by the Chicago Tribune saying:

    "When it comes to achieving the American Dream, it matters where you live."

    Where were you born?

    The good news is that a consumer doesn't have to be born in one of the top states to reap its benefits. The data indicates that it could still be economically beneficial to move to one of the states. About a 3rd of those who reside in states other than where they were born have increased their financial mobility, said the study.

    Never done before

    The study was the very first to look at economic mobility on a state-by-state basis. It looked at more than 10 years of United States Census and Social Security Administration data for about 65,000 individuals. The data examined was from all 50 states and Washington, D.C., covering the years 1978 to 2007. Each state was weighed against the regional and national averages.

    Assisting policy makers

    This sort of information should affect public policy a lot. Currier explains that there is no reason for one state to be better off than another state, but individuals do flourish based on the environment they grew up in. With different amounts of education and prosperity or poverty, people will grow up into different financial mobility areas.

    Currier hopes his report will give policy makers more data to work with. He said:

    "Understanding that mobility rates differ by state is the first step towards helping policy makers pinpoints what enhances their residents' mobility."

    Sources

    Atlanta Journal-Constitution

    ABC

    Chicago Tribune


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