Well duh! I’m just happy people are finally starting to understand this fact! Humm, looking around my wife and I have two 15 yr old cars, live in a 2 bedroom apt, have 2 kids, a MOUND of debt. Oh yeah… fun

Study of incomes for men in 30s: Dad had it better

American men in their 30s today are worse off than their fathers’ generation, a reversal from a decade ago, when sons generally were better off than their fathers, a new study finds.

The study 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, released Friday.

Family incomes of 30-something men have continued to rise in recent decades, but mostly because more of their wives are working, the study’s authors said. Yet even with the addition of women’s paychecks, the rate of family-income growth has slowed.

Along with data showing more workers are earning less in comparison with the incomes of top earners, the report suggests a growing number of Americans “believe that the rules of the game are no longer fair,” said John Morton, director of the Economic Mobility Project at the Pew Charitable Trusts and one of the study’s lead authors.

Median income down

In 2004, the median income for a man in his 30s was $35,010, the study says, 12 percent less than for men in their 30s in 1974 — their fathers’ generation — adjusted for inflation. In 1994, median income for men in their 30s was $32,901, 5 percent higher than 30 years earlier.

The median is the midpoint: half of men earn more, half earn less.

Researchers focused on that age group because income in one’s 30s is a good predictor of lifetime income, according to the report. Outsourcing and the demise of higher-paying manufacturing jobs have contributed to the stagnation in men’s incomes, Morton said. The influx of well-educated women into the work force since the 1970s also might have exerted downward pressure on men’s wages, he said.

Advertisements