The California Dream Is Dead For So Many
Children born in California have a less than 50% change of making more than their parent did at 30 years of age.
As Matt Levin, CalMatters notes, part of the problem stems from the continued economic inequality, where a smaller percentage of the population is making a bigger amount of money.
“What we’re seeing on the national level is that most of the decline (in mobility) is not due to overall economic growth,” says Robert Fluegge, a Stanford researcher who contributed to the study. “What counts more is the change in the distribution for income growth.”
“Even if you’re in California, you’re getting a concentration of income growth among high skilled labor that are able to use technology,” says Fluegge. “And those type of jobs are likely grabbing a lot that income growth.”
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