The overwhelming majority of American adults still make more money than their parents did, but upward mobility is elusive. While 84% of Americans earn more than their parents, only about
a third moved up between income classes in the past four decades, according to the study, from the Economic Mobility Project at the nonpartisan Pew Charitable Trusts. Sixteen percent of all families
surveyed dropped from the income levels of their parents, and blacks were more likely to be downwardly mobile than whites.
Read the whole story at Chicago Tribune »