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Thread: Climbing the economic ladder? Think north and east

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    Climbing the economic ladder? Think north and east

    Just released research conducted by the Pew Center has revealed that economic mobility (upward and downward) varies by state.

    From CNN:

    Residents of eight states, primarily in the Northeast and Mid-Atlantic, have the best shot of moving on up, according to the Pew Economic Mobility Project, which just released what it calls the first state-level study on the subject.

    But those living in nine southern states have the poorest chance of bettering their situations, the project found.
    Economic mobility highest in the Northeast and Mid-Atlantic - May. 10, 2012

    The Pew Center's Economic Mobility Project can be found here: Economic Mobility Project - Pew Center on the States

    The Pew Center's page on the report can be found here: Pew Center on the States

    The state-by-state statistics can be found here: http://www.pewstates.org/uploadedFil...s_Data.pdf.pdf

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    Re: Climbing the economic ladder? Think north and east

    Not surprising imo.

    To be upward mobile you need a level playing field. Countries that have this have high upward mobility.. those that dont have low.
    PeteEU

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    Re: Climbing the economic ladder? Think north and east

    Very misleading. A lot of this has to do with the much higher cost of living in these highly-taxed, overpopulated, issue-laden metropolitan areas.

    You have to pay people a LOT of money to get them to move to those crapholes, and even more to get them to stay.

    A 6,000 square foot home on a tree-lined acre of land in Dallas-Fort Worth can be had for $1 million easy. In New York or Washington, it would be $3-4 million, and in prime areas in California, it would be even more than that.

    A burger and fries in New York can run upwards of $18-20. It just costs more to live there, so you have to bribe good people to do so.

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    Re: Climbing the economic ladder? Think north and east

    Quote Originally Posted by Erod View Post
    Very misleading. A lot of this has to do with the much higher cost of living in these highly-taxed, overpopulated, issue-laden metropolitan areas.

    You have to pay people a LOT of money to get them to move to those crapholes, and even more to get them to stay.

    A 6,000 square foot home on a tree-lined acre of land in Dallas-Fort Worth can be had for $1 million easy. In New York or Washington, it would be $3-4 million, and in prime areas in California, it would be even more than that.

    A burger and fries in New York can run upwards of $18-20. It just costs more to live there, so you have to bribe good people to do so.
    We do have good burgers and fries up here...just saying.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: Climbing the economic ladder? Think north and east

    Quote Originally Posted by Erod View Post
    Very misleading. A lot of this has to do with the much higher cost of living in these highly-taxed, overpopulated, issue-laden metropolitan areas.

    You have to pay people a LOT of money to get them to move to those crapholes, and even more to get them to stay.

    A 6,000 square foot home on a tree-lined acre of land in Dallas-Fort Worth can be had for $1 million easy. In New York or Washington, it would be $3-4 million, and in prime areas in California, it would be even more than that.

    A burger and fries in New York can run upwards of $18-20. It just costs more to live there, so you have to bribe good people to do so.
    Very true. COL in California and New York is ridiculous. I'll take my Great Lakes view any day, even the snowy ones.

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    Re: Climbing the economic ladder? Think north and east

    Quote Originally Posted by PeteEU View Post
    Not surprising imo.

    To be upward mobile you need a level playing field. Countries that have this have high upward mobility.. those that dont have low.
    According to Pew, the primary drivers indicate a lack of a "level playing field":
    "We know that there are certain drivers of mobility and they include things like educational attainment, savings and asset building and neighborhood poverty during childhood, among other things," said Currier.
    Sounds a bit like "if you come from a fairly well off family, you're more likely to climb that economic ladder yourself."

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    Re: Climbing the economic ladder? Think north and east

    Interesting study, but the data doesn't really suggest that you'll "climb the economic ladder if you move to the northeast." The results only pertain to "Americans born between 1943 and 1958" and a simple two-point comparisons where they "measured their earnings when they were age 35 to 39 and again when they were age 45 to 49." So... we're looking at an early Boomer cohort and how their earnings changed mostly during the late 80's/early 90's.

    It's quite a stretch to pretend that we can generalize that to today's population and today's economy.

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    Re: Climbing the economic ladder? Think north and east

    Before you buy into how some news organizations choose to interpret the findings of this study:

    "Study: Economic Opportunity Better in Northeast, Worse in South" - US News and World Report

    It's probably worth looking at data from 2012 rather than what was good for older boomers in the 80's and 90's - because that seems to suggest moving in the opposite direction, South and West:

    Economic Growth by State (most recent)
    Economic Growth statistics - states compared - Economy data on StateMaster
    # 1 Arizona: 8.7%
    # 2 Nevada: 8.2%
    # 3 Florida: 7.8%
    # 4 Idaho: 7.5%
    # 5 Oregon: 6.7%
    # 6 Utah: 5.8%
    # 7 Virginia: 5.6%
    # 8 Montana: 5.4%
    # 9 Wyoming: 4.9%
    # 10 Hawaii: 4.8%

    Business Insider Best States for Job Growth Next 5 Years
    The Best States For Job Growth For The Next 5 Years - Business Insider
    1 Arizona
    3 Texas
    3 Florida
    3 Idaho
    6 South Carolina
    6 North Carolina
    8 Washington
    8 Tennessee
    8 Oregon
    8 Georgia
    8 Colorado

    Forbes:
    1 Texas
    2 Nevada
    3 Arizona
    4 New mexico
    5 North dakota
    6 Utah
    7 Florida
    8 Oklahoma
    9 Georgia
    10 Oregon

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    Re: Climbing the economic ladder? Think north and east

    Quote Originally Posted by donsutherland1 View Post
    Just released research conducted by the Pew Center has revealed that economic mobility (upward and downward) varies by state.

    From CNN:



    Economic mobility highest in the Northeast and Mid-Atlantic - May. 10, 2012
    Well when you've gone as low as you can go, the only other option is up. Those of us in the south are still in good shape and it's easier to be pulled down, than to move up.

    The difference in earnings growth between Texas and New York is 5% and that's over a 10-year period which would come out to 0.5% per year. Hardly a dent in the paycheck so I can't say I give much credence to this study. If you want to achieve the American Dream, get out and do it...get off you butt and work for it!! No study should stop you from doing that.

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    Re: Climbing the economic ladder? Think north and east

    Interestingly enough, some of Pew's findings reflect data concerning college participation rates for students with low-income families. In general, the regions containing states with the highest college participation rates for such students did well in the Pew study, while the regions containing the states with the lowest rates did not fare as well. The data may suggest that education remains a key mechanism for upward mobility.

    For 2010, the states with the highest and lowest college participation rates for students from low income families were as follows:

    Highest:
    1. New Hampshire: 55.6%
    2. New Jersey: 50.1%
    3. New York: 48.5%
    4. Vermont: 46.1%
    5. Massachusetts: 45.9%
    6. Michigan: 45.8%
    7. Pennsylvania: 44.1%
    8. Ohio: 43.2%
    9. Minnesota: 43.1%
    10. Maine: 42.1%
    11. Iowa: 41.8%
    12. Wisconsin: 40.5%
    13. Connecticut: 39.1%
    14. Rhode Island: 38.5%
    15. Maryland: 38.3%

    National Average: 33.3%

    Lowest:
    1. Alaska: 10.1%
    2. Wyoming: 18.1%
    3. Oklahoma: 19.8%
    4. Louisiana: 21.1%
    5. New Mexico: 22.4%
    6. Nevada: 22.8%
    7. West Virginia: 24.1%
    8. Utah: 24.1%
    9. Washington: 25.1%
    10. Texas: 25.2%
    11. Idaho: 26.5%
    12. Arizona: 27.2%
    13. Mississippi: 27.5%
    14. Kentucky: 27.5%
    15. Alabama: 27.6%

    Source: The data cited appeared in the March 2012 edition of Postsecondary Education Opportunity.

    It should be noted that the data I cited above in the rankings is from 2010, which does not match the cohort studied by Pew. However, data that goes back farther shows a lot of persistence. States with relatively high college participation rates for students from low-income families typically sustain those rates. The same holds true for those with relatively low college participation rates. Hence, the issue of college participation by students from low-income families is a chronic one and, therefore, the data may have some utility.

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