People in northern East Coast states normally have a better chance at upward mobility, according to a new study, which is the first of its kind. Source of article: Why never achieve your own favour along with examine Personal Money Network? All about the project When in contrast to others, many 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. Areas in the country The report showed that residents of Maryland, New Jersey, New York, CT, Massachusetts, PA, Michigan and Utah have the best chance of achieving greater wealth in their lifetimes. Then there are the states shown by the report to make it harder getting up the ladder. These states include Kentucky, Mississippi, North Carolina, Texas, Louisiana, Oklahoma, South Carolina, Alabama and Florida. Erin Currier, the author of the study, was cited in the Chicago Tribune: "When it comes to achieving the American Dream, it matters where you live." Where were you born? Moving to one of those states is still financially beneficial; this means that consumers do not have to be born and elevated in one of the states where they can reap benefits. Financial mobility increased a ton in a third of those who live someplace other than the state they were born in. Not looked at previously This sort of study has never been done before. It looked at each state's information and weighed it against regional and national averages. The study looked at data from 1978 to 2007 in all 50 states and Washington D.C. It looked at information on 65,000 individuals by the United States Census and Social Security Administration. Data should be utilized by lawmakers This sort of info should affect public policy a lot. Currier explains that there is no cause of one state to be better off than another state, but individuals do flourish depending 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. According to Currier, policy makers now have more info to help them: "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
|
|||
