Hoover Daily Report

Holiday Cheer From The Dismal Science

via Wall Street Journal
Wednesday, December 28, 2016
Image credit: 
istock

The United States can have hope in the New Year because America’s exceptional economy promises a bright future.

A sign of economic progress is that most Americans generally do better than the previous generation, despite some earnings declines over the recent past. A 2012 Pew report based on data from the Panel Study of Income Dynamics reveals that 84% of the respondents earn more than their parents. Admittedly, there is room for improvement, especially by addressing those in poverty whose children do not escape that condition. But most Americans have managed to earn higher incomes than their parents earned.

A subscription is required to read the full article "Holiday Cheer From The Dismal Science."

Click here to see What's Behind the Numbers? by Edward P. Lazear.