Skip to comments.Men in their 30s lag behind their fathers in pay
Posted on 05/26/2007 4:19:44 PM PDT by ConservativeStatement
American men in their 30s today are worse off financially than their fathers' generation, a reversal from just a decade ago, when sons generally were better off than their fathers, a new study finds.
The study, the first in a series on economic mobility undertaken by several prominent think tanks, also says the typical American family's income has lagged far behind productivity growth since 2000, a departure from most of the post-World War II period.
The findings suggest "the up escalator that has historically ensured that each generation would do better than the last may not be working very well," says the study, which was scheduled for release Friday.
The study was written principally by John Morton of the Pew Charitable Trusts, which is leading the series, called the Economic Mobility Project, and Isabel Sawhill of the Brookings Institution. Others participating are the Heritage Foundation, American Enterprise Institute and the Urban Institute.
(Excerpt) Read more at stltoday.com ...
I've watched 'em sit around all day and talk about "survivor" and "american idol" as though such things...matter.
A man entertained is a man emasculated. (you heard it here first).
LOL! I call him "The Donald"!
And on top of it, everyone in that age group seems to have a student loan to pay off.
More and more facts are coming out just how the middle class is taking a hit, for various reasons.
I don’t know... I did much better than my dad, but then, I didn’t live through the great depression like my dad did. Somehow I think they didn’t factor that in.
One generation works hard and struggles to succeed, succeeds, then proceeds to ruin the next generation(s) through spoiling: “We want our kids to have it better than us.”
So much expectation of a “better” life is built on mollycoddling. Real struggle is required for a person to grow up soundly.
Two things come to mind.
1. The generation they are comparing this generation earned their money during the 80's. The most prolific longest economic boom in generations
2. They are comparing mens income rather than household income. With the advent of the working mother, dad is not available to make as much money as he possibly could, picking up household, child rearing duties.
ping for later
Well, it was the last sentence, but at lest they got it in.
With 12-36 million illegal aliens diluting the workforce and undercutting wages and increasing the costs of those native working Americans who pay taxes, it is no surprise American citizens - especially on the lower rungs and in the manual trades - are either losing their jobs or working for much less than they used to.
For example, meat cutters in beef packing plants earned over twice as much 25 years ago than they do today, not adjusted or inflation. Now the meat packing industry is full of illegals making $9.50 and hour instead of Americans making a good living at the old $21 an hour.
Sweet deal for the packers, but a bummer for an American male trying to raise a family.
I don’t believe that story for a minute.
All the 30 somethings I know live in McMansions, eat out almost all the time, own myriads of all the latest gadgets, think a 5 year old car is an antique and so on.
I think that’s great, but it’s certainly not how I lived when I was in my thirties.
That whole thing is a bunch of BS.
The headline talks about fathers and sons, but the "median income for a man in his 30s" sampled 30 years ago and today is not necessarily exactly the same sample. How many illegal immigrants who weren't qualified by background to immigrate legally are in the sample?
The other issue is whether inflation has been overestimated.
30 years ago nobody could afford a home supercomputer, cell phone, flat big screen color TV with 200 channels, internet access, cars with airbags, GPS navigation, or get treatments for many diseases. Life expectancy was shorter. Due to technology advances, many times a byproduct of military research spending, the quality of life is better now.
Ping to the Xer list...
All that is debt, they don’t own one thing.
Gee... how could the WSJ have missed this one? - Businesses supplementing work force with a neverending flow of cheap labor in the form of illegal immigrants, driving competitive wage rates down.
I don’t know how they factored their conclusions.
My dad was a kid in the depression and, like most, was dirt poor. He survived WWII and went to college. After a couple of introductory jobs he went to work for Boeing and in 33 years rose very close to the top.
I inherited his work ethic, but not his luck (and definitely not his judgment with women!). Two disastrous divorces ruined me for many years. I’ll have to work another forty years to catch up with him ;’}
I agree with you.
My 38 year old husband is an electrician. doing it for 20 years and the state keeps making the exams for licensing harder and harder each year. They make the regulations more and more difficult. changing yearly and unless your college educated or don’t have a life outside of work so that you can spend all your time memorizing a text book that constantly changes, you can’t get ahead.
Of course, add on to that the way that the government now reams the small business man , overhead sky rocketing and pay dropping because of the lack of work where is the incentive to shoot for the brass ring? the brass ring isn’t looking too good anymore.
Irrelevant study...women now take up much of the work force and are doing MUCH better than their mothers (at least in monetary value)
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