Less prosperous than dear old dad
A liberal think tank report paints a less-than-rosy picture of the state of the American worker as discussed in this story on Alternet
Researchers for the Economic Mobility Project studied the relationship of adult children’s incomes to those of their parents and found that the United States now lags behind France, Germany, Sweden, Canada, Finland, Norway and Denmark in this measure of upward mobility. “There is little available evidence that the United States has more relative mobility than other advanced nations,” the group reported in May. “If anything, the data seem to suggest the opposite.”
Comparing the incomes of American men who were in their 30s in 2004 with males who were in their 30s in 1974, the researchers found that today’s men actually earn about 12 percent less, after inflation, than their fathers’ generation did. “There has been no progress at all for the youngest generation,” the group reported. The American family stays afloat because its total income has been swelled by women’s paychecks.
