50%

[jon-nyc]

50% of people born in the 80s out-earned their parents by the time they were 30.

For those born in the 40s, it was 90%.

[Jolly]

Inflation factored in?

[Aqua Letifer]

@jolly said in 50%:

Inflation factored in?

Adjusted cost of living factored in?

[Copper]

Women in the workplace factored in?

[Doctor Phibes]

Did they factor in that general feeling of 'this can't be right'?

[Aqua Letifer]

@doctor-phibes said in 50%:

Did they factor in that general feeling of 'this can't be right'?

Isn't that just the British default position?

[jon-nyc]

From the abstract:

We measure absolute mobility by comparing children’s household incomes at age 30 (adjusted for inflation using the Consumer Price Index) with their parents’ household incomes at age 30. We find that rates of absolute mobility have fallen from approximately 90% for children born in 1940 to 50% for children born in the 1980s. Absolute income mobility has fallen across the entire income distribution, with the largest declines for families in the middle class. These findings are unaffected by using alternative price indices to adjust for inflation, accounting for taxes and transfers, measuring income at later ages, and adjusting for changes in household size.

[jon-nyc]

I'm too lazy too dive into the data but it's unclear which finding is unaffected by adjustments to household size.

The magnitude? Or just the direction?

[jon-nyc]

Its not immediately obvious what the household composition effect would be. People born in 1940 were far more likely to be married at 30 than someone born in 1980. But the wife probably stayed home so you might be looking at a lot of single income households either way.

[Doctor Phibes]

@aqua-letifer said in 50%:

@doctor-phibes said in 50%:

Did they factor in that general feeling of 'this can't be right'?

Isn't that just the British default position?

It's pretty much everybody's position when they see data that doesn't back up their world view.

Once again, Britain leads the world.

[89th]

@jon-nyc said in 50%:

Its not immediately obvious what the household composition effect would be. People born in 1940 were far more likely to be married at 30 than someone born in 1980. But the wife probably stayed home so you might be looking at a lot of single income households either way.

Additional time spent in higher education may also have a delaying effect on earnings by 30, too?

Also, hippies.

[jon-nyc]

Yeah, though again he said same results when measuring later ages. But that can't mean identical percentages, just probably directionally.

[LuFins Dad]

Check the numbers on Median Family Incomes…
50 years ago most homes were single income families…50 years before that EVERY home was.

The more people in the labor pool, the lower the wages.

[LuFins Dad]

Of course, then you also have to factor in the drastic increase of single parent families….

[Jolly]

@lufins-dad said in 50%:

Of course, then you also have to factor in the drastic increase of single parent families….

Biden will fix that. His bill has married couples getting much less government goodies than a single mom making the same income...So, why marry?

The destruction of society continues.️